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USDA's March supply-demand report cut its 2025 US milk production forecast by 700 million pounds to 226.2 billion pounds on lower output per cow. It also lowered cheese, butter, nonfat dry milk and dry whey price forecasts, and reduced the Class III and all-milk price forecasts.
Lower USDA milk output and price forecasts signal tighter raw milk supply but weaker product values, which weighs on dairy-linked feed demand such as DDGS and reflects softer dairy income for feed buyers.
cheesereporter.comMar 13, 2025After 273 past bearish report events, MILK moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
