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Dairy Upbeat - Milk Prices to Stabilize

from IDEAL Agriculture & Marine Insurance

by John Stoesser on Aug 24, 2020

What started as a year of trepidation is actually now playing out in a manner much more positive than anticipated.

 At the beginning of the year, after seeing a disheartening number of dairy farms fold in 2019, there was some optimism that prices could firm a bit.  Then enter the Wuhan Virus and subsequent COVID19 pandemic, severely disrupting supply chains and the ability to get raw milk to processing, and processed milk and milk products to market.  This led to some widespread dumping of otherwise wholesome food product.  Then the block cheese price took off, pulling milk prices with it, albeit not proportionately, providing some real relief and improving the outlook for a better future.

 Well, although prices have now moderated a bit, and production is up, the prices are still significantly stronger than these past lean years.  This article also discusses an even broader base of positive developments.  In particular, the USDA’s Farmers to Families Food Box Program has been a resounding success, and one which will continue into the autumn months.



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