The U.S. milk production rises on strong domestic and export demand for processed dairy products

Published 2021년 6월 30일

Tridge summary

A new report by IndexBox on the U.S. milk market forecasts a 2.1% increase in production in 2021 due to higher yield per cow and a slight increase in the number of milk cows. The average yearly price received by farmers for cow milk is predicted to grow by 3.9% in 2021 because of increased animal feed prices. Factors contributing to this growth include consumer demand for cheese and butter, lower demand for beverage milk, and demand from Asia for imported dairy products. Despite summer droughts leading to higher feed costs, this decline in milk due to fewer cattle should be offset by increased milk production per cow.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

IndexBox has just published a new report: ‘U.S. – Milk – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings. USDA forecasts that milk production in the U.S. will rise by 2.1% in 2021 thanks to gains in yield per cow as well as a slight increase in the number of milk cows. The average yearly price received by farmers for cow milk in 2021 is predicted to grow by 3.9% y-o-y amidst a rally in prices for animal feed. Rising consumer demand for cheese and butter continues to drive the market on the backdrop of lower demand for beverage milk. Demand in Asia for imported dairy products features as another factor boosting milk processing in the U.S. According to IndexBox, in 2020, U.S. milk production increased by 1.3% y-o-y to 100M tonnes, and it is forecast to rise at the same pace for the next two years due to demand from the growing population. Related Content: The average number of milk cows in the U.S. rose from 9,337 heads in 2019 ...

Source: Globaltrademag