Milk output pace picks up

摘要

STRONG summer sales of cheese and butter helped trim cheese and butter stocks. Cooperatives Working Together announced a third herd retirement round this fall that aims at taking some 70,000 cows out of production. Summer's heat and humidity slowed growth in milk production. Those factors are constructive for milk prices. The concern is that July milk production rose a substantial 4.2%, rather than repeating June's 5.6% surge higher. Milk output growth is running well ahead of our roughly 1% population growth.