DMI Dairy Market Report
Dairy Brief:
U.S. dairy exports are on track to achieve
another calendar year record in terms of percent of U.S. milk solids production
exported. Indications earlier this summer that U.S. milk production would
resume growing following an extended period of below year-ago levels have
recently been tempered and now suggest that any resumption of production growth
will likely be modest. Milk and dairy product prices have resumed strengthening
in response, as export demand continues to help firm domestic markets
encountering double-digit retail dairy product price inflation. Still, with
higher input costs are falling margins, factors that would normally signal boom
times are being tempered by uncertainties that may not be resolved in the near
term.