◂ Event Timeline

Feb 9, 2024REPORTUS

Cheese, butter, nonfat dry milk and whey price forecasts were raised

USDA's December Dairy Products report showed US cheese output of 1.21 billion pounds, up 4.4% from November, and butter output of 196.3 million pounds, up 18.4%. Dairy price forecasts for cheese, butter, nonfat dry milk and whey were raised.

WHY IT MATTERS

Higher forecast dairy product prices support milk values, which strengthens the outlook for dairy-sector feed demand.

AFFECTSMILK▲

SOURCE
farmersadvance.comLee MielkeFeb 9, 2024

Price reaction & history

MILK▲bullishSO FAR1d +0.1%5d +0.4%20d +2.8%

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.

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%
Dec 22, 2021The 2021 Class III milk price forecast was raised-0.3%
Feb 12, 2026USDA Hikes 2026 Milk Production Forecast, Also Boosts Dairy Product, Milk Price Forecasts - Cheese Reporter-0.3%
Jan 10, 2025USDA Lowers 2025 Milk Production Forecast, Hikes Dairy Product, Milk Price Forecasts - Cheese Reporter-0.6%

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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