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Mississippi State Extension says USDA's WASDE projects the 2024 all-milk price at $21.60 per cwt, an improvement on last year but below 2022 levels. Strong dairy demand and higher cheese, whey and butter prices are expected, though farm costs remain high.
Firmer dairy prices support dairy herd feed purchasing power, but high non-feed costs keep producers cautious about expanding herds and feed volumes.
extension.msstate.eduNathan GregoryJun 27, 2024After 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.
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.
