# WASDE Lowers Class III Projections • Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach

> USDA's May 12 WASDE raised its 2023 milk production forecast for cows but slowed milk per cow growth, and lowered the Class III price projection while raising Class IV. The 2023 all-milk price was set at $20.50/cwt, and the 2024 all-milk price at $19.90/cwt.

- Date: 2023-05-14 · published 2023-05-14T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35960-wasde-lowers-class-iii-projections-northwest-iowa-dairy-outlook-iowa-state
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower Class III projections signal weaker cheese and whey returns for US milk buyers and processors, pointing to softer milk prices.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2018-11-09 | [WASDE Report Lowers Production and Price Forecast • Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach](https://feedsoft.ai/events/62051-wasde-report-lowers-production-and-price-forecast-northwest-iowa-dairy-outlook.md) | +0.9% | -5.0% |
| MILK | 2023-02-08 | [2023 Milk Production Lowered in Feb WASDE Report • Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach](https://feedsoft.ai/events/37361-2023-milk-production-lowered-in-feb-wasde-report-northwest-iowa-dairy-outlook.md) | +0.9% | -0.5% |
| MILK | 2017-03-09 | [Wasde Released Today • Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach](https://feedsoft.ai/events/72004-wasde-released-today-northwest-iowa-dairy-outlook-iowa-state-university.md) | -1.4% | -3.5% |
| MILK | 2018-03-09 | [World Agricultural Supply and Demand Estimates Predict Milk Production Up for 2018 • Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach](https://feedsoft.ai/events/65991-world-agricultural-supply-and-demand-estimates-predict-milk-production-up-for.md) | +1.0% | +1.8% |
| MILK | 2025-09-15 | [USDA raises 2025 milk production forecast but lowers Class III and all-milk price projections \| Ag Proud](https://feedsoft.ai/events/23044-usda-raises-2025-milk-production-forecast-but-lowers-class-iii-and-all-milk.md) | +0.3% | -3.8% |

## Sources

- blogs.extension.iastate.edu: https://blogs.extension.iastate.edu/nwiadairyoutlook/2023/05/14/wasde-lowers-class-iii-projections/

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