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.

On Jan. 30, the Federal Milk Marketing Order (FMMO) public hearing came to a close. The national hearing, which took place in Carmel, Indiana, began back on Aug. 23, 2023, and included 12 weeks of testimony and cross-examination. Dairy groups are calling for swift action to change the Class 1 mover formula.

Here’s an update on economic factors impacting your dairy’s financial picture as we turn the calendar to February 2024.

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.

Progressive Dairy provides monthly online updates of important dates, reports and factors affecting risk management decisions.

The comment period deadline is Feb. 15 on the development of a potential U.S. Environmental Protection Agency (EPA) rule covering animal waste air emission reporting requirements.

A smaller milking herd and improving milk income margins are contributing to lower U.S. dairy cull cow marketing this winter. Through Dec. 30, the number of dairy cows marketed for beef had trailed year-ago levels for 17 consecutive weeks and was down 82,400 from the same period a year earlier.

Monthly U.S. milk production was lower than the year earlier in December 2023, extending the decline to six consecutive months.

In September, the Physicians Committee for Responsible Medicine (PCRM) posted a billboard in California urging people to “Ditch Dairy to Fight the Climate Crisis.” The message, which was prominently placed along Highway 99 in Tulare County, drew an immediate response from many in the area’s dairy industry.