USDA’s 2020 annual dairy product report shows skim milk powder had the greatest increase in production for the year as many processors transitioned to more storable products during the pandemic.
National Milk Producers Federation chief economist Peter Vitaliano tells Brownfield while stocks of dairy products have been increasing since the last half of 2020, the outlook for recovering demand is helping strengthen prices.
“And helping the market not get spooked by some increases in stocks, but focusing more on the longer-term outlook over the next several months,” he says.
