# Weekly forecast – May 19, 2023 | Ceres

> Ceres lowered its cheese price forecast through year-end and reduced its NDM outlook for Q2, citing spot market weakness. USDA's June advanced Class I price came in at $18.01/cwt, and milk is trading $7 to $10/cwt below class prices.

- Date: 2023-05-19 · published 2023-05-19T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35965-weekly-forecast-may-19-2023-ceres
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower cheese prices could push Class III milk to very low levels through July, which may slow output and weigh on milk values.

## Read by commodity

- MILK: bearish ▼

## Sources

- ceresdrm.com: https://ceresdrm.com/weekly-markets-may-19-2023/

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