2025 could be another strong year for the dairy industry.

Participants: Gary Crawford and USDA Outlook Chairman Mark Jekanowski

Transcript

Milk and dairy product prices are strong right now and have been strong for several months now.

And you know the outlook is for them to remain relatively strong into 2025.

USDA Outlook Board Chairman Mark Jekanowski.

Dairy product demand both globally and domestically is strong, especially for cheese and butter.

And our export demand for dry products is very strong, whey and non-fat dry milk.

So that's helping to support prices of those products.

And of course prices down at the farm levels for milk, which Mark says are averaging 22.75 a hundredweight this year, could be 22.85 next year.

Historically, you know, these are reasonably strong prices for the dairy industry.

And with projected lower feed prices, margins should remain positive.

This is Gary Crawford reporting for the U.S. Department of Agriculture.