USDA’s dairy product price outlook was increased due to a decreasing cow herd. The forecast for the average number of milk cows in 2022 has been lowered by 15,000 head, to 9.405 million. However, the projected average yield per cow in 2022 was adjusted slightly higher, at 24,075 pounds per year. The net impact is a reduction of milk produced for the year of 300 million pounds – down about 0.1 percent – to  226.5 billion pounds.    Though better than last year at the same time, the feed cost of production has steadily risen this year. The milk to feed ratio – which is the amount of feed equivalent to the all-milk price (on a pound per pound basis) has steadily dropped this year, fueling the cow culling...