# Dairy Outlook: April 2024 - Dairy Producer

> USDA's April 2024 Dairy Outlook cut its 2024 milk production forecast to 226.3 billion pounds on slower milk yield per cow, with cow numbers unchanged. Price forecasts were mixed: Cheddar and NDM lower, butter higher, and the Class III forecast fell to $16.20 per cwt.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/30735-dairy-outlook-april-2024-dairy-producer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A lower production forecast is supportive for dairy prices, but the lower Cheddar and whey forecasts point to weaker feed-ingredient demand from the cheese side. Net effect on milk prices is mixed.

## Read by commodity

- CORN: neutral
- MILK: neutral
- CHICKEN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-06-03 | [Dairy Margin Watch: May - Dairy Producer](https://feedsoft.ai/events/40944-dairy-margin-watch-may-dairy-producer.md) | +5.5% | +1.1% |
| CORN | 2017-01-01 | [Corn and Soybean Production Outlook in 2017-18](https://feedsoft.ai/events/72931-corn-and-soybean-production-outlook-in-2017-18.md) | +0.3% | +2.3% |
| CORN | 2021-11-10 | [Weekly Digest: USDA outlook sees deeper milk production cuts - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/44057-weekly-digest-usda-outlook-sees-deeper-milk-production-cuts-progressive-dairy.md) | +0.3% | +4.6% |
| CORN | 2018-02-28 | [Poultry outlook sees increased production, exports](https://feedsoft.ai/events/66641-poultry-outlook-sees-increased-production-exports.md) | +1.6% | +2.1% |
| CORN | 2017-09-19 | [Corn and soybean production outlook in 2017-18 \| Illinois Extension \| Illinois](https://feedsoft.ai/events/68799-corn-and-soybean-production-outlook-in-2017-18-illinois-extension-illinois.md) | +0.2% | +2.5% |
| MILK | 2021-04-14 | [Increased production in EU dairy outlook \| AHDB](https://feedsoft.ai/events/47613-increased-production-in-eu-dairy-outlook-ahdb.md) | +0.5% | +7.3% |
| MILK | 2024-05-01 | [Dairy Market Update April 2024 \| MCT Dairies, Inc.](https://feedsoft.ai/events/4267-dairy-market-update-april-2024-mct-dairies-inc.md) | +18.1% | +19.5% |
| MILK | 2022-09-16 | [Livestock, Dairy, and Poultry Outlook: September 2022 \| Economic Research Service](https://feedsoft.ai/events/39527-livestock-dairy-and-poultry-outlook-september-2022-economic-research-service.md) | +0.2% | +10.4% |

## Sources

- dairyproducer.com: https://www.dairyproducer.com/dairy-outlook-april-2024/
- poultryproducer.com: https://www.poultryproducer.com/poultry-outlook-april-2024/

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