Milk, egg prices discussed during Georgia Dairy Conference in Savannah
SAVANNAH, Ga. (WTOC) - The annual Georgia Dairy Conference is underway this week at the Marriott Savannah Riverfront.
It’s meant to help farmers in the dairy industry to get up to speed on the latest tech and learn new techniques from other farmers.
A big topic now, however, is how the industry is doing economically.
After we saw record high milk prices in 2022, one dairy consultant says we can expect those prices to go down in 2023. That’s great news for consumers, but for farmers, it could cause their profit margin to be reduced.
“The margin between what you get for your milk, what you sell it for, is going to be tighter. But dairy farmers, especially dairy farmers here in Georgia, they’re good managers,” Calvin Covington said.
Covington says at its core milk prices and farmers’ profits are a supply and demand issue.
Because milk prices have spiked so much, demand for it has gone down, which is what will bring prices down.
Another food seeing a spike in price: eggs.
Chickens in Georgia were spared from a recent bout of avian flu that’s driving up prices everywhere.
That spread of the flu, highlighting the importance of keeping flocks healthy.
”It’s important for producers right now and every day. You have to be all in, or you’ll most certainly be all out when it comes to biosecurity, doing those things that protect your flocks, your operation, against the invasion of this virus,” former Georgia Agriculture commissioner, Gary Black said.
According to the US Bureau of Labor and Statistics, eggs hit $4.25 a dozen in December of 2022. Milk, reaching $4.44 that same month.
”Milk prices will probably be about 10 to 15 percent lower, based upon what we know today in 2023 compared to 2022. However, even though they’re down, they still could well be the third highest price in history,” Covington said.
Black recommends shoppers be mindful of what you’re buying and don’t buy food you’re not going to eat. That’ll help even out supply and demand.
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