By 2023, U.S. milk output could reach a record 246 billion pounds, projected USDA economists. That would be a 22 percent expansion of milk supply when compared to the 201.2 billion pounds of milk produced by American dairy farmers in 2013.
At the same time, cow numbers should hold rather steady. Compared to 2013's national dairy herd of 9.221 million, dairy cows could slowly grow to 9.31 million head in 2017 and than tail off to levels close to last year, according to USDA economists in their report USDA Agricultural Projections to 2023.
Milk per cow will definitely go up given the combination of steady cow numbers and projected expansion in the national milk supply. American cows currently average 21,822 pounds of milk. By 2018, the national herd is pegged to eclipse the 24,000-pound mark and then push towards 27,000 pounds of milk per cow by 2023.
During this time, the All-Milk price should fluctuate between $18.95 to 20.45 late in the 10-year horizon.
