USDA Lowers Milk Production, Ups Most Product Price Forecasts
The U.S. milk production forecasts for 2023 and 2024 are lowered from last month, to 227.5 billion pounds and 230.4 billion pounds, respectively, reflecting lower cow inventory reported in the recent Milk Production report. The reduction in cow numbers is expected to continue through 2023 and into the first half of 2024 as returns remain …