# 2024 Milk Production Forecast Reduced, All-Milk Price Looks More Encouraging - Dairy Herd

> The USDA's February WASDE cut its 2024 U.S. milk production forecast by 1 million lbs to 228.2 billion lbs, due to lower output per cow partly offset by larger cow herds. Forecasts for 2024 butter, cheese, nonfat dry milk and whey prices were raised, and Class III and Class IV price forecasts moved higher.

- Date: 2024-02-13 · published 2024-02-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31825-2024-milk-production-forecast-reduced-all-milk-price-looks-more-encouraging
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller expected milk output and stronger product prices support Class III and IV milk prices, which tends to lift dairy-related feed demand and sentiment.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2023-11-14 | [USDA Bumps Up 2024 Price Predictions, Lowers Milk Production Forecast for 2023 - Dairy Herd](https://feedsoft.ai/events/33180-usda-bumps-up-2024-price-predictions-lowers-milk-production-forecast-for-2023.md) | +0.1% | -5.5% |
| MILK | 2025-01-10 | [USDA Lowers 2025 Milk Production Forecast, Hikes Dairy Product, Milk Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/26515-usda-lowers-2025-milk-production-forecast-hikes-dairy-product-milk-price.md) | -0.6% | -1.5% |
| MILK | 2026-04-10 | [USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter](https://feedsoft.ai/events/19714-usda-hikes-2026-milk-production-forecast-dairy-product-price-forecasts-mixed.md) | -1.1% | +0.1% |
| MILK | 2026-02-12 | [USDA Hikes 2026 Milk Production Forecast, Also Boosts Dairy Product, Milk Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/20613-usda-hikes-2026-milk-production-forecast-also-boosts-dairy-product-milk-price.md) | -0.3% | +6.9% |
| MILK | 2026-03-13 | [USDA Raises 2026 Milk Production Forecast, Most Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/20167-usda-raises-2026-milk-production-forecast-most-dairy-product-price-forecasts.md) | -0.2% | +5.4% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/2024-milk-production-forecast-reduced-all-milk-price-looks-more-encouraging

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