A dairy economist says the latest USDA reports suggest milk production is starting to flatten out as feed prices catch up with herd expansions.

“Given what’s happened on the feed cost side, I think production per cow is going to hang out pretty close to trend.”

Nate Donnay with StoneX says June milk production numbers were lower than he expected and are coming closer to trend lines compared to the first half of the year when growth was well above trend. 

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