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

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