Today we start our weeklong series on Northwest Farm Credit Services’ snapshot of local commodities. And we’ll start with cattle and dairy. Karen Witt, Vice President at NWFCS said 2018 has been a rough year for the diary industry, and that looks to continue over the next 12 months.
“Dairy profitability appears to be slightly unprofitable despite slight improvements in milk prices over the period. Normalization of trade with China and the USMCA agreement with Canada and Mexico could provide stability in the markets.”
Meanwhile, when it comes to the cattle sector, Witt is forecasting slight profits over the next year.
“As growing domestic and export demand continues to soften the impacts of growing beef supplies. However, record cattle on feed inventory is expected to pressure feeder cattle prices and feeder margins lower.”
Join us Tuesday as we turn our attention to the row crops.
If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail email@example.com