dairy cows being milked Toa55/iStock/Thinkstock.

U.S. milk production still higher but slowing

Average milk prices for the year expected to be higher than last year.

U.S. milk prices have been trending downward since last December and will likely continue to do so through May, University of Wisconsin-Madison professor emeritus Bob Cropp noted in his April "Dairy Situation & Outlook."

Cropp said the Class III price was $17.40/cwt. last December, fell to $16.77 in January and was $15.81 in March, while “April should be around $15.15 and May at $15 or a little below $15. Prices should start to trend upward again by June.”

Crop

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