The good news is U.S. milk production is expected to grow in 2024. Michael McConnel of the USDA’s Chief Economist Office says the bad news is the growth rate will slow compared to last year.
The good news for U.S. dairy farmers is it will cost less to feed their animals in 2024.
McConnell says they expect cow inventories to remain stable this year.
For more information, visit usda.gov.
