Dairy producers are the go-to example of how the agriculture industry has been hurt. We have seen the decline of producers. We watched the ugly downturn in the markets. We watched as Congress debated new ways to help them stay afloat. Now, they have a slight glimmer of hope.
As of press time, the October Class 3 milk price is up 50 cents, sitting at $19.70. These are prices the dairy industry hasn’t seen in half a decade. Brian Doherty of Stewart Peterson explains what has been happening.
The prices hit this level back last Thursday. Doherty says traders appeared to be doing more short covering.
Dairy has been taking it hard these past years. Not many people in Ag can say they don’t know a dairy farmer who had to call it quits. The eternal optimists have always been saying it will, “eventually turn around. It always does.” Hopefully, this will be of some relief to those dairy farmers who are barely hanging on. They have a hole to climb out of, but you can’t climb out until you can take the first step up.