MADISON, Wis.— Mark Stephenson, director of dairy policy analysis at University of Wisconsin-Madison, said supply chain issues and inflated prices for supplies are taking a toll on the dairy industry. 

"These have been more than ripples, I would say," Stephenson said. "They've been more like tsunamis." 

He said input costs on dairy farms are up, with even simple supplies like fertilizer getting more expensive. 

Stephenson also called a shortage of labor on farms "a real problem" this spring. 

On the positive side, Stephenson said milk prices are at record highs. 

"But we also have record high costs of producing that milk, and that's chewing up a lot of those margins," Stephenson said.  

He said some farms have offset feed costs by purchasing early. Others, according to Stephenson, have invested more in automated milking systems and other devices that allow them to operate with fewer people. He said those farms are likely to have a good year because of the high milk prices. 

Stephenson said farms that didn't take the above steps, or plan ahead, could struggle to stay afloat this spring and summer.