Here’s a summary of the USDA 2005 Milk Production, Disposition and Income report. The main number that jumps out is the lower cash receipts. Which of course relates to producer income. You can find the full report here. (pdf file)
Milk production increased 3.5 percent in 2005 to 177 billion pounds. The rate per cow, at 19,576 pounds, was 609 pounds above 2004. The annual average number of milk cows on farms was 9.04 million head, up 29,000 head from 2004.
Cash receipts from marketings of milk during 2005 totaled $26.7 billion, 2.4 percent lower than 2004. Producer returns averaged $15.20 per hundredweight, 5.8 percent below 2004. Marketings totaled 176 billion pounds, 3.6 percent above 2004. Marketings include whole milk sold to plants and dealers and milk sold directly to consumers.
An estimated 1.08 billion pounds of milk were used on farms where produced, 2.4 percent less than 2004. Calves were fed 87 percent of this milk, with the remainder consumed in producer households.