Based on the latest USDA monthly Livestock Slaughter data, the number of dairy cull cows marketed through U.S. slaughter plants in March 2026 was estimated at 239,200.

Milk prices are moving in favorable directions, with May Class IV futures closing at $22.29 per hundredweight (cwt) on April 24 and May Class III futures closing at $17.56 per cwt. But markets can quickly change. Add in the record prices dairy producers are receiving for cull cows and beef-on-dairy animals, and an established risk management plan becomes even more critical.

Twenty states including Kansas, Texas and Wisconsin boosted milk production a combined 535 million pounds in March.

Inflammation is not limited to obvious clinical cases; it’s a normal biological process that takes place every day in a cow. We should recognize it as part of the cow’s constant physiologic balancing act, and one that becomes especially delicate during the transition period.

Recently, I’ve had some deep conversations with producers around the concept that it’s not how much you can borrow but rather how much you can repay that matters. At the heart of the conversation is whether collateral or capacity to repay is more important.