The U.S. could be facing a milk-cow shortage.
New data from CoBank show the number of cows able to produce milk has fallen to a 20-year low. Analysts predict that the trend will continue until a recovery period sometime in 2027, when more dairy facilities are expected to come online.
Record-high prices for beef calves, coupled with tight cattle supplies, have prompted many dairy producers to produce more calves for feedlots and fewer for milk barns.
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Higher cow numbers and slightly stronger output per cow pushed milk production above last year.
Feed demand and premiums drive growth for the crop
