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Market expert critical of slow U.S. dairy market data

A market expert says he’s starting to see signs of China buying more U.S. agricultural goods, but when it comes to dairy, the U.S. has a data reporting problem.

Dan Basse with AgResource Company says, “I believe on the dairy side of things, they’re also looking for opportunity, but the problem I have with dairy unlike the grains or livestock is we don’t get that information for roughly sixty days after it really happens.”

Basse says the markets would benefit from more timely reporting, and producers can help. “One of the things I would encourage all of you as dairy farmers (is) to talk to your representatives, your Congresswoman or Congressman so that we can get this information more efficiently. Dairy trade is going to be a big deal in the year ahead and that data that we all get as analysts and you of course as a producer is always in arrears.”

Basse spoke to producers Thursday during the Professional Dairy Producers virtual business conference.