Livestock, Dairy, and Poultry Outlook: January 2021
Dairy: Based on recent data and higher expected milk prices, the milk production forecast for 2021 has been raised to 226.7 billion pounds, 0.4 billion higher than last month’s forecast. Due to an improved economic outlook, enhanced by Federal Government actions to stimulate the economy, and USDA’s announcements regarding purchases of dairy products, domestic demand expectations for dairy products have strengthened. Dairy product price forecasts for 2021 have been raised. The all-milk price forecast for 2021 is $17.65 per cwt, $1.05 higher than last month’s forecast.
See the LDP Outlook.