Report: Milk Production Up 2.4 Percent; Milk Prices Rise

Milk production in February totaled 14.0 billion pounds, up 2.4 percent from last year, according to a USDA report. A rise in milk prices caused farmers to increase herds and output. Dairy farmers expect to get $18.40 per 100 pounds for all milk this year, compared to $16.29 from last year. Production this year is expected to rise1.7 percent to 196 billion pounds, according to USDA. Read more or view the report (Bloomberg).