The December issue of the NMPF-DMI Dairy Market Report is out. It advises that domestic commercial use of milk is keeping pace with milk production, but that eroding export volumes are causing total consumption to lag behind production growth. That’s keeping downward pressure on milk prices. The dairy futures outlook for the all-milk price for the first half of 2015 has dropped about two dollars per hundredweight in less than two months, while feed costs have rebounded in recent weeks.

The Dairy Market Report is written and produced by the National Milk Producers Federation and sponsored by Dairy Management Inc., in Rosemont. IL. The full report can be found here.