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Sep 22, 2024REPORTUS

USDA Cuts Milk Production Forecasts, Boosts Price Outlook Cheese Prices Expected To Average Over $1.90 Per Pound

USDA's September WASDE cut its 2024 US milk production forecast by 400 million pounds to 225.9 billion and its 2025 forecast by 300 million to 227.9 billion. It also raised dairy product price forecasts, with cheese expected to average over $1.90/lb.

WHY IT MATTERS

Lower USDA milk output and higher price forecasts signal firmer dairy prices, which supports demand for feed used by dairy herds.

AFFECTSMilk (Class III)▲

SOURCE
cheesereporter.comdebbieSep 22, 2024

Price reaction & history

Milk (Class III)▲bullishSO FAR1d +0.1%5d -0.1%20d -2.4%

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

Feb 12, 2026USDA Hikes 2026 Milk Production Forecast, Also Boosts Dairy Product, Milk Price Forecasts - Cheese Reporter-0.3%
Mar 13, 2026USDA Raises 2026 Milk Production Forecast, Most Dairy Product Price Forecasts - Cheese Reporter-0.2%
Apr 10, 2026USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter-1.1%
Jan 10, 2025USDA Lowers 2025 Milk Production Forecast, Hikes Dairy Product, Milk Price Forecasts - Cheese Reporter-0.6%
Feb 12, 2025USDA Hikes 2025 Cheese Price Forecast, Lowers Other Product, Milk Price Forecasts - Cheese Reporter+0.5%

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.

Milk (Class III) MILK · GP ▸

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