U.S. milk production lagging behind year-ago levels, combined with robust demand for dairy domestically and overseas, are driving milk prices toward record highs, even as inventories remain relatively balanced. Higher feed costs continue to eat into farmer margins. U.S milk production was 1.7 percent lower than a year earlier in January, but this moderated to just under one percent lower in February.
To see the report:
https://www.nmpf.org/dairy-market-report-april-2022/
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