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Federal Incentives Can Speed Dairy's Net-Zero Goal, NMPF'S Mccloskey Says

Well–targeted incentives that encourage climate-friendly investments among dairy producers of all sizes would greatly aid the entire dairy industry in its goal of net-zero emissions by 2050, potentially making earlier achievement possible, Indiana dairy farmer Mike McCloskey said in a hearing of the House Committee on Agriculture’s Subcommittee on Commodity Exchanges, Energy, and Credit.
 
“We have committed in the dairy industry that we are going to go to net zero,” said McCloskey, chairman of the National Milk Producers Federation’s Environmental Issues Committee. “We can get there with your support.”
 
The dairy industry has adopted an ambitious goal of becoming a carbon-neutral sector of the economy by 2050 through its Net-Zero Initiative, a partnership among farmers and the entire production chain. But with policies that encourage dairy farmers to widely adopt emissions-reduction technologies such as anaerobic digesters, spur private investment and alleviate market uncertainty, the goal could likely be reached even sooner, McCloskey said.
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Next week’s USDA reports (acreage/stocks) could be a surprise/market moving. RVO’s (new blending biofuel requirements) were as expected with no big surprises and already baked into futures. E15 summer waiver just simply good optics. Markets are skeptical that the war in Iran ends soon with no diplomatic off ramp. The Trump/Xi meeting in China now May 14 – 15. March 1 USDA hogs and Pigs report was friendly/bullish + CFTC and more.