Dairy industry faces challenges with declining prices and high feed costs, prompting the need for programs like Dairy Margin Coverage (DMC) to provide relief. The program has seen significant payments, offsetting cash receipts for dairy farmers. However, calls for expansion to higher production levels are ongoing. Meanwhile, key executives in the dairy industry provide insights into trends for 2024, covering federal milk marketing order reform, market prices, export prospects, diversity, sustainability goals, innovation, and the outlook for a new farm bill.

Dairy Industry Challenges and Trends