date:Jul 23, 2013
Producers will see lower feed prices into 2014, but milk prices are forecast slightly lower as well. The net effect should be a modest expansion in milk production by late next year.
Current year fat basis imports were unchanged in July at 4.1 billion pounds and are expected to hold at 4.1 billion pounds in 2014. This years skim-solids basis imports were lowered to 5.5 billion pounds as the pace of milk protein concentrate imports lags last year. Imports are forecast at 5.4 billion pounds for 2