U.S. milk prices ended 2019 at their highest in five years. And while 2020 may see those gains cool off a bit, they should stay high enough for many producers to start recovering from the doldrums they faced in the second half of the 2010s.
“The bleeding of the past several years will probably stop, to some extent,” said Vitaliano, NMPF’s chief economist and creator of the Dairy Market Report, a monthly drill-down on what’s driving dairy markets. Still, producers must be vigilant to keep costs under control to stay competitive both domestically and internationally, given the cyclical nature of dairy prices, he said.
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The National Milk Producers Federation, based in Arlington, VA, develops and carries out policies that advance dairy producers and the cooperatives they own. NMPF’s member cooperatives produce more than two-thirds of U.S. milk, making NMPF dairy’s voice on Capitol Hill and with government agencies. For more, visit www.nmpf.org.