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Cropp Bullish for $18 Milk


University of Wisconsin’s Bob Cropp says milk prices could approach $18 by the fall, a more than $4 per hundredweight increase since the beginning of 2019. Cropp says dairy product production is down, stocks are tightening, and everything is indicating stronger prices for the fourth quarter.

“I’m saying in June we’re going to be in the $17s and keep increasing to at least the high $17s for the fourth quarter.  If things really tighten and the feed situation plays out, exports improve, $18 is not out of the possibilities.”    

Since January, Wisconsin has lost more than 300 dairy farms and Cropp says that’s a trend that’s expected to continue nationwide, keeping cow numbers down. He also sees improvements in exports to Mexico by the end of the year with the removal of retaliatory tariffs on cheese.

 


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