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Dairy Outlook and Management Implications¹

Department of Agricultural Economics, University of Wisconsin Madison 53706

ABSTRACT

The managerial challenge in dairying in the future will be to keep a tight grip on costs, to increase efficiency as a hedge against inflation, to improve bargaining power, to increase consumption, and to maintain a balance between supply and demand. Increased size and decreased number of dairy cooperatives and private dairies, growth of large interregional cooperatives, and increased involvement of general farm organizations in dairy marketing, will help keep farm milk prices at least at or close to curent levels for the foreseeable future. The key to success in the seventies at both the dairy farm, and the dairy marketing system is management,—adapting modern technology and business management technics to maximize profits in producing and marketing of milk.

¹ Presented at Midwest Regional Agricultural Outlook Conference, Madison, Wisconsin, August 23, 1971.