Ever.Ag market analyst Mike North sees an avenue for U.S. milk prices to hedge higher. However, North said it is impossible to overlook the large number of cows in the barn. He calls them ‘dual-purpose’ animals. “They’re producing milk, but also putting black calves on the ground to reward this really tall beef market,” North told RRFN. “So long as that sticks around, I think we’re going to be dealing with excessive milk supplies and that ultimately hangs as a dark cloud over this market.”
