Farm Credit East has released its 2024 Northeast Dairy Farm Summary and 2025 Mid-Year Outlook, indicating that 2024 was a profitable year after a challenging previous year for the Northeast dairy industry. This year’s report also includes dairy market outlooks from prominent dairy economists. The report can be accessed at FarmCreditEast.com/Dairy.
“There was a positive shift in profitability in 2024 due to higher milk prices and lower feed costs,” commented Chris Laughton, Farm Credit East Director of Knowledge Exchange and the report’s author. “The milk price farmers received in 2024 increased by $1.17 per cwt., on average, compared to the prior year.”
The report concludes with a dairy market outlook from CoBank economists, Corey Geiger and Abbigail Prins. The outlook covers potential upside and downside dairy market movement and explores key trends for the year ahead.
Farm Credit East’s Northeast Dairy Farm Summary has been the most comprehensive economic analysis of the region’s dairy industry for the last 45 years. This year’s report once again includes forward-looking analysis in addition to a review of the previous year’s results.
Visit FarmCreditEast.com/Dairy to download this year’s report or contact Chris Laughton at (800) 562-2235 or Chris.Laughton@farmcrediteast.com for more information.
Farm Credit East is a member-owned cooperative serving businesses involved in agriculture, forest products and commercial fishing throughout its eight-state territory of New York, New Jersey and New England. In addition to loans and leases, the organization offers a full range of specialized financial services. Farm Credit East is governed by a 15-person board of directors, comprised of 13 customer-elected, one customer appointed and one outside appointed director. For more information, visit FarmCreditEast.com.
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