# USDA Raises All-Milk Price for the First Time in Months - Dairy Herd

> USDA's August WASDE lowered its 2023 milk production forecast to 227.9 billion lbs and cut cow inventories for 2023 and 2024. It also raised the 2023 all-milk price projection by 40 cents to $19.95 per cwt, with Class III and Class IV forecasts rising sharply.

- Date: 2023-08-17 · published 2023-08-17T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/34587-usda-raises-all-milk-price-for-the-first-time-in-months-dairy-herd
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower projected milk output and cow numbers tighten dairy supply, supporting higher milk and product prices and firmer demand for dairy-based feed ingredients.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-01-26 | [Milk production estimates remain unchanged for first time in 6 months](https://feedsoft.ai/events/43136-milk-production-estimates-remain-unchanged-for-first-time-in-6-months.md) | +0.5% | +3.0% |
| 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% |
| MILK | 2020-10-12 | [USDA milk production, price and feed cost projections all raised - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/50754-usda-milk-production-price-and-feed-cost-projections-all-raised-progressive.md) | +2.2% | +11.0% |
| 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 | 2017-06-23 | [The Farmer's Exchange Online USDA Sees Less Milk in 2017-18
and Raises Class 3 Price Forecast](https://feedsoft.ai/events/70507-the-farmer-s-exchange-online-usda-sees-less-milk-in-2017-18-and-raises-class-3.md) | -4.0% | -5.2% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/usda-raises-all-milk-price-first-time-months

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