“If there was one sentence to summarize 2023, it is that as inflation declined in the general economy, milk prices dropped significantly, while input costs remained elevated,” commented Chris Laughton, Farm Credit East Director of Knowledge Exchange and the report’s author.
The report concludes with a dairy market outlook from CoBank Lead Economist for Dairy, Corey Geiger. The outlook covers prominent shifts within the industry and explores key trends in dairy markets for the year ahead, which will also be discussed during the webinar.
Farm Credit East’s Northeast Dairy Farm Summary has been the most comprehensive economic analysis of the region’s dairy industry for the last 44 years. This year’s report once again includes forward-looking analysis in addition to a review of the previous year’s results. Notably, this year’s report includes Pennsylvania dairy farm data provided by Horizon Farm Credit.
Visit FarmCreditEast.com/Webinars to register for the webinar or FarmCreditEast.com/Dairy to download this year’s report. Contact Chris Laughton at (800) 562-2235 or Chris.Laughton@farmcrediteast.com for more information.
Farm Credit East is a member owned cooperative with 24 locations in its eight-state service area. In addition to loans and leases, the organization also offers a full range of specialized financial services, such as tax preparation, payroll, record keeping, appraisal and consulting for farming, forest products and commercial fishing businesses. Farm Credit East is governed by a 16-person board of directors, comprised of 13 customer-elected, one customer appointed and two outside appointed directors. For more information, visit FarmCreditEast.com.
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