Farm Credit East Presents 2023 Northeast Dairy Farm Summary & 2024 Market Outlook Report and Webinar

ENFIELD, CONN. — Farm Credit East has released its 2023 Northeast Dairy Farm Summary and 2024 Mid-Year Outlook, indicating a decline in milk prices for 2023 compared to the high prices of 2022. For an overview of this year’s report, which reviews last year’s financial results of Northeast dairy farms, join Farm Credit East and Horizon Farm Credit for a webinar on Thursday, August 1 at 12:00 p.m. Corey Geiger of CoBank, will also join the webinar to provide a dairy market outlook. This webinar is free to attend for all interested dairy producers.

“If there was one sentence to summarize 2023, it is that as inflation declined in the general economy, milk prices dropped significantly, while input costs remained elevated,” commented Chris Laughton, Farm Credit East Director of Knowledge Exchange and the report’s author. 

The report concludes with a dairy market outlook from CoBank Lead Economist for Dairy, Corey Geiger. The outlook covers prominent shifts within the industry and explores key trends in dairy markets for the year ahead, which will also be discussed during the webinar. 

Farm Credit East’s Northeast Dairy Farm Summary has been the most comprehensive economic analysis of the region’s dairy industry for the last 44 years. This year’s report once again includes forward-looking analysis in addition to a review of the previous year’s results. Notably, this year’s report includes Pennsylvania dairy farm data provided by Horizon Farm Credit.  

Visit FarmCreditEast.com/Webinars to register for the webinar or FarmCreditEast.com/Dairy to download this year’s report. Contact Chris Laughton at (800) 562-2235 or Chris.Laughton@farmcrediteast.com for more information. 

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