“The dairy industry has entered one of the most unique market moments in a generation, according to Corey Geiger, lead dairy economist for CoBank.

“Feed prices are shifting to a five-year low, and beef-on-dairy calves are fetching top-of-the-market prices,” Geiger explains. “Those record values on calves are placing a lid on dairy replacement numbers, and that, in turn, has capped milk production.”

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