World Dairy Expo
World Dairy Expo, held in Madison, Wisconsin, last week, has come to a close. This event is a staple in the dairy industry; showcasing some of the best genetics in the world; the latest technology efforts to improve efficiency and profitability; and many virtual farm tours, to showcase how different dairies operate across the world.
Many local high school agriculture classes, as well as collegiate programs, take a day out of the classroom, to enjoy this event. From robotic milkers to the world famous grilled cheese, even those not directly involved in the dairy industry can enjoy this event!
The Northern Illinois region had some notable success on the colored shaving this year. Alaina Dinderman of Orangeville, IL, and Jayse Pudwill of Dakota, IL, were two names that stood out to the CSB staff, while reviewing the class standings. Congratulations to both of you, on your hard work and dedication to your show stock.
Ashlynn Schultz of Orangeville, IL, also placed third individually, overall, in the FFA World Dairy Expo Judging event, helping her team place second, overall, representing the Orangeville FFA Chapter. Congratulations on this major accomplishment! Your hard work does not go unnoticed!
There may be other individuals, as well, from the local area, who had success at World Dairy Expo, and we would love to hear about it! Please share your successes with our CSB staff, as you see them throughout the community!
Industry Financial Outlook
US Dairy Producers may be in for favorable margins through the rest of 2024. Class III milk prices remain in the $20 range with Class I and Class II both above $20. At the same time, strong corn and soybean production has held commodity pricing low. Overall, the position of feed cost is looking low and milk prices are pretty high. It has been a long time since we’ve talked about the forward margin looking positive. With that in mind, higher margin often finds a way to bring out more milk. Also noting that what goes up must come down. As your trusted Ag Bankers, we are happy to see the large margins in the forecast, and we will continue to help you navigate year end conversations, as harvest is well on its way.
