AgResource Company President Dan Basse says it is a demand issue. “It’s really a problem in the whey market; China has not shown up for whey and that’s been leaning on price” European butter imports into the United States have also surged.
The combination has brought milk prices to their lowest level in a year-and-a-half. Basse said the dairy industry is not in a good place. “The big problem would be if feed prices rocket to the upside due to a weather problem,” said Basse.
“The only helpful aspect is that the price of beef is at a record high. That’s giving the cull cow market some opportunity.”
