From ABC member National Milk Producers Federation: Dairy prices through this year’s second half are on track to be the highest since 2014’s record highs. This recovery, combined with assistance from the new Dairy Margin Coverage program, doesn’t mean a return to full prosperity, but the improvements should help stop the bleeding, and perhaps begin healing balance sheets. Second-half milk prices may average $19.10 per hundredweight, according to mid-August CME futures forecasts, compared to $17.45 per hundredweight in the first six months of 2019. Production levels better aligned with demand, along with world markets that are stabilizing in spite of trade-policy headwinds, are the main factors propelling the improving commercial outlook. More>>
