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All milk price projected at $19/cwt by 2028

USDA economists expect gradual growth in the dairy industry over the next decade with only slight price increases.

In its projections for the next 10 years, USDA says the all milk price will stay near $17 per hundredweight from 2019 to 2022, then up to $18 in 2023 and reach a high of $19 by 2026.

Milk production is expected to increase more than 14 percent by 2028 with about 65,000 more cows.