Volatile milk prices have significantly affected dairy farmers in recent years, causing revenue for milk producers to rise and fall dramatically. However, improvements in raw milk prices and increasing consolidation activity will help revenue and profit improve. Demand for milk will also continue to rise gradually as the US population grows, as it is considered a dietary staple.
Establishments in this industry primarily raise cattle for milk. The industry includes only the sale of raw milk and excludes the production of drinkable fluid milk and processed dairy products like butter, cheese and powdered milk. Those value-added activities are covered in the Dairy Product Production industry (IBISWorld report 31151).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.