IARN — It would not be fair to say that the dairy industry has been hurting like other Ag industries. If you were to take a snapshot of just 2020 and the COVID-19 pandemic, you would still see dairy taking a large hit. Producers dumping milk because the supply chain is unable to handle it, and no market for the milk that would normally have gone to the foodservice industry. We saw farmers literally pouring their livelihoods down the drain. Now compound that with the prior years of depressed prices, and dairy has taken more than its fair share of lumps. This was supposed to be their year after all. One dairy industry executive says there are some positives that are happening despite the pandemic.
Michael Dykes is the President and CEO of the International Dairy Foods Association (IDFA). He says while there is adversity because of COVID-19, but the industry was seeing positive momentum in the six preceding months. Momentum like this cannot be ignored. He compares the positive factors against losing 50% of their market in the past few weeks.
For more on this story, including comments from Michael Dykes, visit the Iowa Agribusiness Radio Network.