# The Dairy Industry Is Growing To Keep Pace With Intense Global Demand - EDairy News English

> USDA lowered its 2023 US milk production estimate by 200 million pounds to 228.4 billion, citing slower growth in milk per cow, and kept 2024 production at 230.8 billion pounds. Forecast cheese and nonfat dry milk prices were revised for 2023, while butter was raised 50 cents to $2.435/lb.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/35490-the-dairy-industry-is-growing-to-keep-pace-with-intense-global-demand-edairy
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller 2023 milk output forecast modestly tightens dairy supply, which could support dairy prices and eventually feed demand.

## Read by commodity

- MILK: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-07-21 | [U.S. Dairy Industry Sees Growth in Production and Global Demand - Dairy Producer](https://feedsoft.ai/events/23753-u-s-dairy-industry-sees-growth-in-production-and-global-demand-dairy-producer.md) | -0.7% | -0.3% |
| MILK | 2020-01-16 | [Dairy Report: Expect Slower Growth In Milk Per Cow - EDairy News English](https://feedsoft.ai/events/55106-dairy-report-expect-slower-growth-in-milk-per-cow-edairy-news-english.md) | +0.1% | +0.1% |
| MILK | 2021-03-02 | [February 2021 Dairy Market Report - EDairy News English](https://feedsoft.ai/events/48120-february-2021-dairy-market-report-edairy-news-english.md) | +4.5% | +3.5% |
| MILK | 2021-06-10 | [Rabobank Dairy Quarterly reveals resuming of pre-pandemic levels of demand - Dairy Industries International](https://feedsoft.ai/events/46576-rabobank-dairy-quarterly-reveals-resuming-of-pre-pandemic-levels-of-demand.md) | +1.1% | +0.1% |
| MILK | 2023-07-03 | [The Dairy Industry: Review of 2022 and a Look Ahead](https://feedsoft.ai/events/35067-the-dairy-industry-review-of-2022-and-a-look-ahead.md) | -1.8% | -2.6% |

## Sources

- en.edairynews.com: https://en.edairynews.com/the-dairy-industry-is-growing-to-keep-pace-with-intense-global-demand/

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