Less cows, but better milk prices in the US

US milk production in the first half of 2018 is forecast to increase over the first half of 2017 by 1.6%. This is according to the December dairy outlook from the USDA. Although milk prices in the US are expected to decline from 2017 to 2018, relatively low feed prices are expected to encourage expansion of the milk cow herd and greater yield per cow, although at a slower rate than forecast in November. Lower milk prices With recent price declines in dairy products and continued high stock lev