Since the record highs of 2014, when milk was priced at well above $25 dollars per cwt, U.S. milk production has continued to grow at record numbers, and the USDA has projected that a record 212 billion pounds of milk will be produced in the U.S. in 2016. The demand, however, has begun to slow, and this new dynamic of supply and demand changes have combined to create some serious pressures on milk prices worldwide.
Dr. John Newton, a senior economist with the National Milk Producers Federation (NMPF), sat down with AgWired for an interview on the current state of milk prices, what’s behind their decline, and what the change in prices means for producers nationwide.
Listen to Lizzy Schultz’s interview with Dr. Newton: Interview with Dr. John Newton, NMPF