◂ Event Timeline

Oct 21, 2024REPORTUS

Dairy prices expected to remain high entering 2025

USDA's October WASDE projects 2025 US cheddar at $1.88/lb, butter at $2.79/lb and all-milk at $22.75/cwt, all lower than prior-month forecasts. Global dairy prices are retreating from near-record highs earlier in 2024.

WHY IT MATTERS

Lower projected 2025 dairy prices reduce expected dairy-based feed ingredient values, while seasonal demand keeps prices elevated near term.

AFFECTSMilk (Class III)▼

SOURCE
dairyprocessing.comJason KendallOct 21, 2024

Price reaction & history

Milk (Class III)▼bearishSO FAR1d -0.0%5d -0.1%20d -12.5%

After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.

Jan 30, 2023All Milk Prices Expected To Drop In 2023-8.0%
Sep 23, 2025Dairy Production, Demand Expected To Increase-0.4%
Aug 12, 2020Increasing milk production expected to keep dairy prices low - Brownfield Ag News+2.3%
Nov 29, 2017Exports key to higher milk prices in 2018-8.3%
Jan 3, 20182018 milk price expected to average $1 less than 2017-10.5%

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.

Linked price moves

Milk (Class III)-11.5%5 periods to Oct 30, 2024-4.0σ
The October WASDE lowered 2025 cheddar, butter and all-milk forecasts and noted global prices retreating from highs, which supports bearish sentiment on futures.

Milk (Class III) MILK · GP ▸

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