# USDA Lowers 2023 All-Milk Price Forecast, Milk Production Estimates Remain the Same - Dairy Herd

> USDA's July WASDE cut its 2023 all-milk price forecast by 40 cents to $19.55 per cwt, with the Class III price lowered 65 cents to $16.05. Milk production for 2023 was left unchanged at 228.4 billion lb, while the 2024 production forecast was reduced by 200 million lb.

- Date: 2023-07-13 · published 2023-07-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35061-usda-lowers-2023-all-milk-price-forecast-milk-production-estimates-remain-the
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A lower USDA price outlook signals continued weak dairy farm revenue and pressure on milk demand for dairy-based feed and ingredients. Lower milk prices tend to weigh on the Class III and Class IV benchmarks.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-10-05 | [USDA Lowers Its 2022-2023 All-Milk Price Forecast - Dairy Herd](https://feedsoft.ai/events/5115-usda-lowers-its-2022-2023-all-milk-price-forecast-dairy-herd.md) | +9.9% | +10.0% |
| 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 | 2025-04-11 | [USDA Hikes 2025 Milk Production Forecast, Lowers Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/25122-usda-hikes-2025-milk-production-forecast-lowers-dairy-product-price-forecasts.md) | +0.8% | +6.8% |
| MILK | 2024-12-11 | [USDA Provides Milk Production Estimates for the Next Ten Years - Dairy Herd](https://feedsoft.ai/events/26966-usda-provides-milk-production-estimates-for-the-next-ten-years-dairy-herd.md) | -0.5% | +8.4% |
| MILK | 2025-11-14 | [USDA Hikes 2025, 2026 Milk Production Forecasts, Lowers Most Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/21954-usda-hikes-2025-2026-milk-production-forecasts-lowers-most-dairy-product-price.md) | +0.1% | -7.6% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/usda-lowers-2023-all-milk-price-forecast-milk-production-estimates-remain-same

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