Four years ago, U.S. dairy’s safety net was completely revamped. Dairy Margin Coverage (DMC) replaced the largely ineffective Margin Protection Program (MPP-Dairy), and Dairy Revenue Protection (DRP

Earlier this year, weak U.S. butter prices, combined with a relatively weaker U.S. dollar, generated a lot of export interest from foreign buyers. As these international sales took place, it cut down

As 2022 begins to draw to a close, it is instructive to look back at the factors responsible for the record All-Milk price that will be logged for the year

Milk and dairy product prices soared to unprecedented heights this summer as the global milk production deficit worsened

In my opinion, trying to forecast milk prices for 2023 is a fool’s errand. In my career, I’ve never seen a time with so many unknowns that will impact both milk production and demand

depending on who you listen to, the U.S. economy is officially in a recession . . . or maybe it isn’t. Either way, commodity prices have fallen over the last several months

It is unlikely to come as news to readers that beverage milk consumption has been declining in recent decades

Farmers everywhere are still struggling to manage through this extremely tight labor market. Prices of equipment, parts, fertilizer, hauling, and construction have also surged double-digits

whether looking at your farm business or household accounts, it’s pretty obvious prices for just about everything are rising

During the past two years, the commodity world was rocked by both the biggest demand shock and the biggest supply shock seen in generations. COVID-19 lockdowns crushed demand and led to widespread mil

In recent years, for better or worse, milk prices in the U.S. are determined increasingly by forces at play in other parts of the world

After seven years of lackluster milk prices, dairy farmers are finally seeing the upswing they have been waiting for in milk checks. This year has started out with a bang

This year is shaping up to be a good year for milk prices. Milk production has dropped below levels from a year ago in four of the five major dairy exporting regions

When economists try to forecast markets, they typically look at the history of prices and production and then consider consumer demand and other market factors

Most forecasts focus on when. When will the supply chain bottlenecks be resolved? When will inflation subside? When will barrel cheese prices catch up with blocks?

Is it an overstatement to say that the U.S. dairy industry is experiencing a “paradigm shift” in its approach to milk production? Probably

For decades we have watched as U.S. cow numbers built up quickly in response to favorable market signals while retracting slowly to unfavorable ones

the volatility that dairy markets have experienced over the last several months continues. That’s because the balance between milk supplies and domestic and international demand for dairy products

For nearly two years, U.S. dairy producers have been building new facilities or crowding more cattle into existing pens

Unfortunately, we aren’t done with COVID-19 yet . . . or maybe it’s more correct to say that COVID-19 isn’t done with us yet. Either way, perhaps we should stop and ask what we have learned...