3

U.S. Milk Supply: Situation and Future Outlook

44

The Hoard’s Dairyman Farm

55

66

U.S. Milk Production

USDA

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

2014

50

55

60

65

70

75

80

85

90

95

100

Million metric tons

1972: 54.4 M2014: 93.4 M

77

U.S. Milk Production Per Cow

USDA

1930

1933

1936

1939

1942

1945

1948

1951

1954

1957

1960

1963

1966

1969

1972

1975

1978

1981

1984

1987

1990

1993

1996

1999

2002

2005

2008

2011

0

2,000

4,000

6,000

8,000

10,000

12,000

Kilograms

1930: 2,000 kg1970: 4,400 kg

2014: 10,100 kg

88

U.S. Dairy Farming Today

• Efficient farming operations- Industry-leading production per cow

- Reduced carbon footprint (greater milk output with fewer cows)

- Farm proximity to plants boosts freshness

• Modern farming practices- Year-round production, less

affected by weather shifts

- Optimized feed rations

- High-tech milking operations

- Enhanced reproduction

- Attention to cow comfort

99

2004 to 2014: U.S. Farms Double Milk Flow

USDA and Hoard’s Dairyman

2004 20140

50

100

150

200

250Average Herd Size

204 cows

135 cows

2004 20140

500

1,000

1,500

2,000

2,500Milk per Farm

1,146 mt

2,061 mt

Average herd size grew from 135 to 204 cows

Milk production per farm rose from 1,146 to 2,061 metric tons per year

1010

U.S. Dairy Industry: Dynamic and Growing

1111

Milk Production Continues to Grow

1212

The Geiger Family Has Been Farming Since 1867

1313

Knigge Farms: First in the U.S. to Install Robots

1414

The Hoard’s Dairyman Farm

Thank youCorey Geiger

Managing Editor, Hoard’s Dairyman

cgeiger@hoards.com