Private-lender interest rates on agricultural loans are moving higher and so are rates on loans through the USDA’s Farm Service Agency.

The next meeting of the Federal Reserve Board’s Federal Open Market Committee (FOMC) is scheduled for Sept. 19-20.

There are limited expectations for an improved outlook for dairy product exports in the third quarter and lasting through the end of 2023.

On a milk solids equivalent, April 2023 dairy product exports had their worst year-over-year decline in four years.

The next step in a potential formal process to modernize the Federal Milk Marketing Order (FMMO) system is next week, with a pricing-related proposal submission deadline of June 14.

Not all of the dairy economic news is cloudy: The U.S. dairy industry grew significantly over the past two years, adding jobs, increasing wages and boosting its total impact on the U.S. economy.

The USDA established an Organic Dairy Marketing Assistance Program (ODMAP) designed to help mitigate milk market volatility, higher input and transportation costs, and unstable feed supply and prices.

On a milk solids equivalent, March 2023 dairy product exports fell below the same month a year earlier, ending an 11-month streak of year-over-year gain.

The FDA guidance provides largely voluntary labeling of some plant-based beverages sold as dairy alternatives.

While still historically low, February 2023 exports of most U.S. hay products rebounded slightly from January.