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Industry News

Read coverage of current events and news affecting dairy producers and the industry.

LATEST

Two federal dairy safety net programs saw increased activity in mid-August.

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July 2019 U.S. milk production inched above year-ago levels by the slimmest of margins, according to the USDA’s monthly Milk Production report, released Aug. 19.

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Interest rates on many types of agricultural loans in the nation’s midsection were already headed lower before the Federal Reserve’s Open Market Committee (FMOC) adjusted its benchmark lending rate lower in late July. In the first reduction since 2008, the FMOC dropped the rate to 2% from 2.25%, or 25 basis points from the previous level, and also left the door open to future cuts in 2019.

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The USDA’s latest milk production forecasts for both 2019 and 2020 were reduced, based on expectations of a smaller dairy herd and slower growth in milk per cow. As a result, price projections were increased slightly for 2019, with further improvement in 2020, based on USDA’s monthly World Ag Supply and Demand Estimates (WASDE) report, released Aug. 12.

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