Improved working capital and equity positions in 2022 helped reduce the number of U.S. farms filing for Chapter 12 bankruptcy in 2023. There will likely be additional financial stressors in 2024.

2023 annual milk production was down 98 million pounds compared to the 2022 total. However, annual total milk production has increased 9.9% from 2014.

Here’s Progressive Forage’s monthly look at factors impacting hay markets across the U.S.

Here’s a summary of news impacting your dairy as we approach the middle of February 2024.

The USDA’s World Ag Supply and Demand Estimates (WASDE) report identifies milk and feed factors potentially impacting dairy producer income in the year ahead.

Tightening cow and heifer numbers pushed average prices for U.S. replacement dairy cows to a nine-year high in January, according to latest USDA quarterly estimates.

The USDA’s semiannual estimate of cattle inventories indicates the number of dairy cows to start 2024 are the lowest in four years.

The USDA National Agricultural Statistics Service (NASS) released its latest Ag Prices report on Jan. 31, including factors used to calculate the December 2023 Dairy Margin Coverage (DMC) margin.