The Chief Economist for the National Milk Producers Federation is encouraged by milk price trends. Peter Vitaliano says milk prices are at an eight-year high, and booming exports across a wide range of products are shoring up farmer balance sheets that struggled with volatility during the pandemic. Vitaliano says those prices were helped by a very sharp drop-off in milk production and cow numbers since May. He says the U.S. has gone from around four and a half percent expansion to negative growth seven months later.
