February 8, 2023
Ag Economy
Dairy Industry Snapshot
Avg. Price per Cwt. |
2020 |
2021 |
2022 |
F2023 |
Boston Blend Price1 |
17.10 |
17.84 |
24.96 |
20.89 |
Avg. WNY Blend2 |
16.00 |
16.85 |
24.00 |
22.38 |
USDA All-Milk Price3 |
18.24 |
18.53 |
25.65 |
22.70 |
F=forecast
- November 2022 U.S. milk production increased 1.3% from November 2021. The national dairy herd decreased slightly, but this was more than offset by increased productivity per cow.
- On a state-by-state basis, in November, there were Y-O-Y increases in production in some major producing states, including, Idaho (2.3%), Texas (6.3%) and Wisconsin (1.3%). Notably, California (-0.5%), and New Mexico (-4.3%) showed declines. In the Northeast, New York had an increase of 3.2% Pennsylvania was flat and Vermont showed an increase of 1.5%.4
- Long-term futures foresee some softening in milk prices in 2023, bringing the average milk price next year down by about $2-3.
1 Agri-Mark Price Forecast
2 Upstate Niagara Price Forecast
3 USDA World Agricultural Supply and Demand Estimate (WASDE)
4 USDA NASS Milk Production Report
Tags: dairy
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