It had been a rough few years for the dairy industry. The markets had not been good, and we had been seeing family farms closing up shop left and right. Those who were fighting to keep going said that they felt that good times had to be on the horizon once again.
Well, for those of you who decided to “stick and stay, and make it pay”, you have indeed found some better times than we had been having. There’s a little way to go to be completely recovered, but milk prices have been better, and looking to continue that momentum. So much so that we could even start to see more expansion in the dairy industry, rather than more contraction of operations.
Shawn Hackett is with Hackett Financial Advisors, and he gives us a rundown of what is moving the dairy industry forward right now.
The other factor in this upward momentum can also be a challenge. That is the number of dairy heifers that are available right now. This isn’t a roadblock to dairy expansion, but rather more of a school-zone speed limit. It’s getting producers to slow down, and keep moving forward, but also keeping them focused on making sure it isn’t being done hastily. It will make moves more intentional.
It’s nice to talk about positivity in the industry once again. For too long it has faced uphill challenges that have put far too many producers out of business.
For more information on what’s ahead in the dairy market, go to Hackettadvisors.com.
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