Livestock margins stay positive in Salado Basin as Spain's goat milk prices hit historic highs

A quarterly livestock economic report shows that, despite a slight downturn in farmgate prices, margins for cattle breeding in the Salado Basin remain above historic averages. Gross margins for calf production are $310,573 per hectare, roughly 25% higher than a year earlier, while full‑cycle margins also stay strong despite a recent 15% quarterly adjustment due to higher costs.

In Spain, goat milk prices have surged to record levels, with the average reaching €13.32 per hectogram in April 2026 – a 19.9% increase year‑on‑year. Production fell 8.4% to 128.21 million litres in the first four months of the year, and the number of goat dairy farms dropped 5.9%, intensifying the supply shortage driving prices higher.