# Low milk prices may persist in cheese states

> CoBank analysis says futures point to 2024 as possibly the third-highest milk price year on record. However, global dairy trade has fallen from its 2021 peak, and US cheese sales dipped 3.5% in February. New cheese plant capacity coming online later this year is expected to pressure Class III prices.

- Date: 2024-04-25 · published 2024-04-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30891-low-milk-prices-may-persist-in-cheese-states
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Growing cheese capacity and softer demand weigh on Class III milk prices, which can limit dairy-related feed demand and pricing. Shrinking dairy replacement herds could cap upside in milk output.

## Read by commodity

- MILK: bearish ▼

## Sources

- hoards.com: https://hoards.com/article-34994-low-milk-prices-may-persist-in-cheese-states.html

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