# Milk Price Predictions End on a Low Note for 2023, Dramatically Lower than Last Year - Dairy Herd

> USDA's December WASDE lowered its 2023 US milk production forecast by 2 million pounds to 226.9 billion and cut 2024 production to 229 billion. Butter and cheese price forecasts were trimmed, and the 2023 Class III forecast was lowered to $17.05 per hundredweight.

- Date: 2023-12-08 · published 2023-12-08T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32710-milk-price-predictions-end-on-a-low-note-for-2023-dramatically-lower-than-last
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower production and lower dairy product prices offset each other, leaving the milk price outlook mixed but weaker than last year.

## Read by commodity

- MILK: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-03-17 | [USDA Raises 2026 Milk Price Forecast as Dairy Production Grows](https://feedsoft.ai/events/20166-usda-raises-2026-milk-price-forecast-as-dairy-production-grows.md) | -0.3% | +4.9% |
| MILK | 2026-08-22 | [Price forecasts higher Class III, lower Class IV - Dairy Star](https://feedsoft.ai/events/17916-price-forecasts-higher-class-iii-lower-class-iv-dairy-star.md) | +0.1% | -2.9% |
| MILK | 2026-08-14 | [Dairy Product, Milk Price Forecasts Mixed In Latest USDA Projections - Cheese Reporter](https://feedsoft.ai/events/17911-dairy-product-milk-price-forecasts-mixed-in-latest-usda-projections-cheese.md) | +0.2% | -2.7% |
| MILK | 2025-05-20 | [USDA Raises 2025 U.S. Milk Production Forecast, Sees Slight Dip in 2026 Prices - Dairy Producer](https://feedsoft.ai/events/24676-usda-raises-2025-u-s-milk-production-forecast-sees-slight-dip-in-2026-prices.md) | +0.1% | +0.5% |
| MILK | 2020-12-18 | [Economic Review of Milk Costs in 2019 and Projections for the Rest of 2020 and 2021 - farmdoc daily](https://feedsoft.ai/events/49654-economic-review-of-milk-costs-in-2019-and-projections-for-the-rest-of-2020-and.md) | +0.5% | +3.8% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/milk-price-predictions-end-low-note-2023-dramatically-lower-last-year

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