# USDA forecasts offer varied outlook for dairy’s financials | Ag Proud

> The USDA's November WASDE raised its 2024 US milk production forecast by 200 million pounds to 226 billion pounds, while keeping 2025 output unchanged at 227.7 billion pounds. The agency lowered its 2024 butter price forecast and raised NDM and whey prices, leaving the Class III forecast at $19.05/cwt and Class IV at $20.75/cwt.

- Date: 2024-11-11 · published 2024-11-11T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/27552-usda-forecasts-offer-varied-outlook-for-dairy-s-financials-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A higher production estimate and lower butter prices point to ample dairy supply, which is mildly bearish for milk prices and dairy-derived feed ingredients, while stronger NDM and whey demand partly offsets this.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-07-10 | [USDA raises milk output forecast but cuts milk price outlook
						 \| The Dairy Site](https://feedsoft.ai/events/18340-usda-raises-milk-output-forecast-but-cuts-milk-price-outlook-the-dairy-site.md) | +0.4% | +6.4% |
| MILK | 2017-10-17 | [Mid-October dairy economic update: USDA raises milk production forecasts -  \| Ag Proud](https://feedsoft.ai/events/68461-mid-october-dairy-economic-update-usda-raises-milk-production-forecasts-ag-proud.md) | -0.9% | +0.2% |
| MILK | 2026-06-11 | [USDA feed supply, price forecasts remain stagnant \| Ag Proud](https://feedsoft.ai/events/18812-usda-feed-supply-price-forecasts-remain-stagnant-ag-proud.md) | -0.1% | -2.1% |
| MILK | 2020-12-11 | [USDA 2021 milk price outlook weakens - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/49806-usda-2021-milk-price-outlook-weakens-progressive-dairy-ag-proud.md) | -1.0% | +4.8% |
| MILK | 2026-06-23 | [Higher Milk Production Forecasts Temper Dairy Price Outlook - Dairy Producer](https://feedsoft.ai/events/18807-higher-milk-production-forecasts-temper-dairy-price-outlook-dairy-producer.md) | -0.0% | -1.6% |

## Sources

- agproud.com: https://www.agproud.com/articles/60628-usda-forecasts-offer-varied-outlook-for-dairys-financials

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