Based on latest USDA monthly Livestock Slaughter data, the number of dairy cull cows marketed through U.S. slaughter plants in January 2026 was estimated at 246,800.

Nineteen states including California, Texas and Kansas boosted milk production a combined 712 million pounds in January.

The February Feed Outlook report shows this month’s global coarse grains trade forecasts for both the 2024-25 and 2025-26 trade year are made on the observed pace of shipments and supply adjustments. The forecast for global sorghum trade is unchanged from last month.

With 315 filings, farm bankruptcies were up 46% from 2024. Declining farm receipts and rising expenses, primarily in crop markets, led to an increase in the number of U.S. farms filing for Chapter 12 bankruptcy in 2025.

USDA WASDE raised 2026 milk production and prices, increased beef output and fed cattle prices, and projected steady corn, soybean and cottonseed prices.

The new year will not be starting out strong for most dairy producers as they can anticipate weaker milk checks in January, based on a review of Federal Milk Marketing Order (FMMO) milk class prices.

As trade data continues to be released following the six-week government shutdown last fall, records indicate a favorable end to the 2025 year for U.S. dairy products.

Based on preliminary slaughter data for the month of December, the forecast for fourth-quarter 2025 beef production is raised 50 million pounds from last month. The change reflects a marginal increase in fed cattle and cow slaughter that more than offsets a decline in bull slaughter from last month’s forecast.

Both feed costs and the milk price fell month over month for a DMC margin of $9.42 per hundredweight (cwt), triggering the first and only payment in 2025.