Economic review of US milk costs in 2022, projections for 2023 & 2024 Milk production per cow for all herds averaged 25,085 pounds. Total returns have exceeded total economic costs only once out of the last ten years. If nonfeed costs per 100 pounds of milk produced averaged $11.50, total costs to produce 100 pounds of milk would be about $25. If total economic costs averaged $25 per 100 pounds of milk produced, the average Illinois producer would have returns below total economic costs by $4 per 100 pounds of milk produced. "Economic Review of Milk Costs in 2022 and Projections for 2023 and 2024."