# Global dairy forecast: 2024 milk production and trade - Dairy Global

> USDA's Dairy Global Market Analysis forecasts 2024 US dairy export values to contract on lower prices, with weak demand for nonfat dry milk and whey from East and Southeast Asia in the first half. Cheese production is expected to rise 2%, with exports up 8% to 466,000 tonnes.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/31686-global-dairy-forecast-2024-milk-production-and-trade-dairy-global
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weak skim-milk export demand points to softer prices for dairy byproducts, which can weigh on the value of dairy-based feed ingredients.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-01-24 | [USDA increases 2026 milk production forecast - Dairy Star](https://feedsoft.ai/events/21063-usda-increases-2026-milk-production-forecast-dairy-star.md) | -0.5% | +2.2% |
| MILK | 2017-04-12 | [Dairy Economic Update: 2017 milk production forecast and price cut -  \| Ag Proud](https://feedsoft.ai/events/71511-dairy-economic-update-2017-milk-production-forecast-and-price-cut-ag-proud.md) | +0.7% | +2.7% |
| MILK | 2025-03-13 | [USDA Lowers 2025 Dairy Product, Milk Price Forecasts, Also Reduces Milk Production Forecast](https://feedsoft.ai/events/25582-usda-lowers-2025-dairy-product-milk-price-forecasts-also-reduces-milk.md) | -0.5% | -7.2% |
| MILK | 2026-06-23 | [Higher Milk Production Forecasts Temper Dairy Price Outlook - Dairy Producer](https://feedsoft.ai/events/18807-higher-milk-production-forecasts-temper-dairy-price-outlook-dairy-producer.md) | -0.0% | -1.6% |
| MILK | 2026-01-16 | [USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter](https://feedsoft.ai/events/21068-usda-hikes-2026-milk-production-forecast-dairy-product-price-forecasts-mixed.md) | -0.3% | +2.2% |

## Sources

- dairyglobal.net: https://www.dairyglobal.net/industry-and-markets/market-trends/global-dairy-forecast-2024-milk-production-and-trade/

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