Dairy Markets Find Floor and U.S. Farm Numbers Continue Decline
**Dairy Markets seemed to have found a floor, for now.
www.dairyherd.com reports, on the CME Spot auction, Block Cheese went down $0.02, settling out at $1.64 ¼ with 9 lots traded.
Barrel Cheese gained 1.5 cents to $1.49 with 15 lots exchanged.
May Class III Milk stayed rather flat, settling at $16.62.
Butter and Nonfat Dry Milk were unchanged at $2.40 and $1.16 ½, respectively.
**A coalition of lawmakers urges the House Ag Committee to protect the nearly $20 billion from the Inflation Reduction Act for climate-smart agriculture programs in the upcoming 2023 Farm Bill.
In a letter, the House Sustainable Energy and Environment Coalition said, “The $19.5 billion in Inflation Reduction Act investments for Farm Bill Title II conservation programs and technical assistance within USDA is critical to fighting climate change, and the next Farm Bill represents a significant opportunity to strengthen climate-resilience.
**New data released by USDA’s Economic Research Service shows the number of U.S. farms continues to decline.
After peaking at 6.8 million farms in 1935, the number of U.S. farms and ranches fell sharply through the early 1970s.
Researchers say the rapidly falling farm numbers in the mid-20th century reflect the growing productivity of agriculture, increased mechanization, and increased nonfarm employment opportunities.