# USDA Dairy Production Report: Surprising Trends in Cheese, Butter, and Milk Output for November 2024 | The Bullvine

> The USDA's November 2024 Dairy Product Production Report showed cheese output down 33 million pounds from expectations, the largest drop since January 2024. Butter and nonfat dry milk output rose above forecasts, and California milk output fell a record 9.2% year on year.

- Date: 2025-01-06 · published 2025-01-06T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/26522-usda-dairy-production-report-surprising-trends-in-cheese-butter-and-milk-output
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower cheese output and a sharp drop in California milk supply tighten milk availability, while higher butter and powder output adds to ingredient supply. The net price effect is mixed.

## Read by commodity

- MILK: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2025-01-06 | 5 | +10.4% | 2.8 | Published 2025-01-06, the November report showed cheese output 33 million lbs below expectations and California milk output down a record 9.2%. This tighter cheese supply supports Class III futures. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-09-03 | [USDA Dairy Products Report July 2026: Cheese, Butter, and Dry Milk Trends - News and Statistics - IndexBox](https://feedsoft.ai/events/17489-usda-dairy-products-report-july-2026-cheese-butter-and-dry-milk-trends-news-and.md) | -0.8% | -7.3% |
| MILK | 2026-08-14 | [Dairy Product, Milk Price Forecasts Mixed In Latest USDA Projections - Cheese Reporter](https://feedsoft.ai/events/17911-dairy-product-milk-price-forecasts-mixed-in-latest-usda-projections-cheese.md) | +0.2% | -2.7% |
| MILK | 2026-05-15 | [USDA Raises 2026 Milk Production Forecast; Price Forecasts Mixed - Cheese Reporter](https://feedsoft.ai/events/19256-usda-raises-2026-milk-production-forecast-price-forecasts-mixed-cheese-reporter.md) | -0.2% | -5.7% |
| MILK | 2025-05-20 | [USDA Raises 2025 U.S. Milk Production Forecast, Sees Slight Dip in 2026 Prices - Dairy Producer](https://feedsoft.ai/events/24676-usda-raises-2025-u-s-milk-production-forecast-sees-slight-dip-in-2026-prices.md) | +0.1% | +0.5% |
| MILK | 2026-03-17 | [USDA Raises 2026 Milk Price Forecast as Dairy Production Grows](https://feedsoft.ai/events/20166-usda-raises-2026-milk-price-forecast-as-dairy-production-grows.md) | -0.3% | +4.9% |

## Sources

- thebullvine.com: https://www.thebullvine.com/news/usda-dairy-production-report-surprising-trends-in-cheese-butter-and-milk-output-for-november-2024/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.