There is a lot more to the story than what is being discussed. I would suspect that a lot of the production is in areas where the demand is static or declining such as the Northern US. A lot of the population growth is in the Southern US so potentially there is room to grow if you are located in an area where the population is rising in terms of milk drinkers. You make a fair criticism of what I call the university system which has long discussed increasing production as a means to increase income. But there is also a long standing problem in that farmers flat out don't work together to manage production but rather look at their fellow farmers as competitors. I question that profitability in terms of efficiency is not being pushed as a key measure for the university or lender is labor dollars per cow or per output of milk. I think that farmers do a decent job at looking at what does not work and adapting. I have greatly reduced my corn production as cost of production has run ahead of of income on many of my fields for many years now. That was not always the case.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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