2023 Dairy Market Outlook - a podcast by MID-WEST FARM REPORT - MADISON

Dairy markets have been a bit of a roller coaster lately but they’re picking back up. That’s according to Leonard Polzin, UW-Extension Dairy Markets and Policy specialist. He says consumers are still purchasing dairy products and he expects margins to rise back up. Polzin gives a recap of 2022 and explains what he’s forecasting for 2023 dairy markets.

“2022 was a year of highs as we had record high milk prices but we also had really high feed prices,” says Polzin. “So while the income coming in was high, so were the expenses going back out. But with that, margins still were quite good, relatively speaking.”

He adds that 2022 gave a bit of a reprieve for producers to be able to catch up on some things, maybe make some new investments, and come into 2023 with a little cushion. As we come into 2023, costs have decreased, but not enough to get the margins back to where they used to be, at plus nine or ten dollar margins. 

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