Dairy Industry Snapshot

Avg. Price per Cwt.	2020	2021	2022 F	2023 F
Boston Blend Price¹	17.10	17.84	24.72	21.58
Avg. WNY Blend²	16.00	16.85	24.77	--
USDA All-Milk Price³	18.24	18.69	26.15	24.15

F=forecast

May 2022 U.S. milk production decreased -0.7% from 2021. The national dairy herd decreased by 102,000 head to 9.41 million cows. Per-cow productivity rose by 0.4%.
On a state-by-state basis, in May, there were decreases in production in most major producing states, including California (-1.7%), Idaho (-0.3%), Minnesota (-1.0%) and Michigan (-1.7%). In the Northeast, New York was flat, while other states saw decreases, including Pennsylvania (-1.1%), and Vermont (-0.9%).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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