Milk production expanded 1.1% in September according to the USDA. The increase was the smallest in 14 months and followed a 2% YOY growth in July. The milking herd declined again, down 19,000 head compared to the prior month to 9.480m. While down on the multi-decade high reached in May, this was still 106,000 head higher YOY. Average yield per cow for August was down 0.1% YOY, a 15-month low. August was the 15^th consecutive month of expansion in US milk output.

Wisconsin, Texas and California jointly accounted for 63% of the national YOY milk growth in August (up from 48% in July), increasing by 2.6%, 3.2% and 0.7% respectively. This more than offset weaker trends in New Mexico (-9.3%) and Washington (-6.6%).