From the latest Drovers Alert: CattleFax has reported that declining milk prices and high input costs have caused dairy cow slaughter to be at 25 percent above a year ago and at the highest it has been in the last 20 years. Even though input outlays have declined since their record highs of last year, the decline has not been sufficient to compensate for milk prices that have fallen by half. The dynamics have led to record culling levels.