Years of low milk prices, challenging weather, labor shortages and other factors have dairy producers reaching for a positive new decade. Fortunately 2020 may be a light at the end of a very long tunnel. UW-Madison’s Bob Cropp wrote a detailed article highlighting the details which may make 2020 more prosperous.
Visit the Wisconsin State Farmer’s website to view the article in its entirety. Cropp received the 2013 AJCA-NAJ Award for Meritorious Service in honor of his contributions to the dairy industry and the Jersey breed.
In the article, Cropp reviews the milk prices at the end of 2020, as well as for January. Furthermore, he goes on to explain where he believes milk prices are heading this year. Cropp touches on the USDA forecast of production; economy, exports and trade deals; and price predictions. In conclusion, he goes on to explain that Class III futures are fairly optimistic for 2020 and encourages farmers to consider protecting some of their milk with dairy futures and options or the Revenue Protection option.