date:Dec 11, 2012
estion for now is whether theres enough milk to meet the worlds needs after a year of drought, soaring feed costs and shrinking milk output. Despite 2012s high milk prices of $18.50 and higher per cwt., U.S. and other global dairy producers substantially reduced production.
In the U.S. and globally, there is a shortfall of milk relative to demand, says Robin Schmahl, hedge and marketing specialist with AgDairy, LLC.
Hit hard by the droughts high feed costs, U.S. dairies responded with unusuall