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Aug 22, 2024REPORTUS

USDA reports a slight decline in U.S. milk production

USDA data showed US milk production in July 2024 at 18.915 billion pounds, 0.4% below a year earlier, with the number of cows milked slightly lower. USDA revised its 2024 and 2025 milk production forecasts downward and raised its all-milk price forecast to $22.30 per cwt for 2024.

WHY IT MATTERS

Lower production and firmer price forecasts tighten dairy supply, supporting milk prices and dairy margins while modestly affecting dairy-feed demand.

AFFECTSMILK▲

SOURCE
dairybusinessmea.comFrankAug 22, 2024

Price reaction & history

MILK▲bullishSO FAR1d +0.1%5d -0.2%20d +12.9%

After 237 past bullish report events, MILK 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%
Sep 19, 2019U.S. milk production growth remains small in August - Progressive Dairy | Ag Proud+0.1%

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 · GP ▸

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