The outlook for dairy producers continues to be strong for the remainder of the year, despite milk futures retreating some – albeit still high compared to less fruitful years – and an anticipated high-yielding 2024 harvest. October’s income-over-feed cost projections remain in dairy producers’ favor for a profitable month with the margin just shy of $16 as of Sept. 24.

In the Economic Update, the Class I base price hits two-year high in October, fluid milk sales continue upward trend, and the USDA launches an assistance network to support financially distressed farmers.

Seventeen states including Wisconsin, New Mexico, Minnesota and Arizona reduced production a combined 233 million pounds.

Dairy cull cows marketed through U.S. slaughter plants in August lowest since 2020.

Here is your dairy-related news for the third week in September.

The USDA’s World Ag Supply and Demand Estimates (WASDE) report offers forecasts for dairy, beef and feedstuffs.

Gains made across all categories helped U.S. dairy exports post a 9.6% year-over-year rise in milk solids equivalent in July. The month’s success set the tone for an optimistic second half of the year. Here’s Progressive Dairy’s 30,000-foot view of dairy-related export categories.

Here’s an update on interest rates from quarter two of 2024 as reported by Federal Reserve districts that share data impacting dairy finances.