# 2023 Dairy outlook update - Dairy Producer

> Canadian dairy analysts report that a 2.2% butter support price increase took effect February 1, though their forecasts underestimated first-quarter butterfat prices. Revenue forecasts for 2023 rose by $1.18/hl for Western Milk Pool producers and $0.74/hl for producers in the P5 region, but profits remain tight.

- Date: 2023-05-03 · published 2023-05-03T12:00:00.000Z
- Category: policy · region Canada · magnitude low
- Page: https://feedsoft.ai/events/35962-2023-dairy-outlook-update-dairy-producer
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher butterfat prices and support increases lift farm revenue, but thin margins may limit herd expansion and milk supply growth.

## Read by commodity

- MILK: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2023-10-31 | [2023 Dairy outlook update: Little margin improvement in 2023 - Dairy Producer](https://feedsoft.ai/events/33627-2023-dairy-outlook-update-little-margin-improvement-in-2023-dairy-producer.md) | +1.8% | +1.6% |
| MILK | 2019-07-12 | [Northwest Iowa Dairy Outlook • Iowa State University Extension and Outreach](https://feedsoft.ai/events/58078-northwest-iowa-dairy-outlook-iowa-state-university-extension-and-outreach.md) | +0.4% | +1.1% |
| MILK | 2023-10-13 | [Economic Update: Dairy Forward Pricing Program has expired, for now \| Ag Proud](https://feedsoft.ai/events/33771-economic-update-dairy-forward-pricing-program-has-expired-for-now-ag-proud.md) | -0.4% | +1.1% |
| MILK | 2024-11-14 | [USDA Agricultural Service Releases Federal Milk Marketing Order Decision - Dairy Producer](https://feedsoft.ai/events/27406-usda-agricultural-service-releases-federal-milk-marketing-order-decision-dairy.md) | -0.3% | -6.0% |
| MILK | 2021-09-03 | [News for Dairy Co-ops - September 2021 - NMPF](https://feedsoft.ai/events/4916-news-for-dairy-co-ops-september-2021-nmpf.md) | -0.5% | +8.8% |

## Sources

- dairyproducer.com: https://dairyproducer.com/2023-dairy-outlook-update/

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