The United States Department of agriculture is lowering its milk production forecasts for last year and this year.
Cattle feeding profit margins exceeded beef packer margins last week for the first time in more than two years as cash cattle prices have increased 20% since September.
Dairy farmers are enjoying the holidays just a little more this year thanks to better milk prices.
Beef packers saw their margins decline to the lowest level since before the Tyson packing plant fire August 9 as beef cutout prices declined and cash cattle prices increased.
Enrollment for the 2020 Dairy Margin Coverage program ends December 13.
As dairy producers try to revive their balance sheets after consecutive years of struggling milk prices, better milk prices are helping improve outlooks today.
Feedyards saw closeouts improve dramatically last week after the cash cattle market posted its third consecutive week of higher prices.