# The Farmer's Exchange Online WASDE: Growing Cow Numbers Foreshadows Large Milk Increase

> USDA's April 11 WASDE raised its 2023 US milk production estimate by 200 million pounds on a larger cow inventory. Cheese and butter price forecasts were raised, while nonfat dry milk was lowered, and 2023 production is projected to rise about 0.97% from 2022.

- Date: 2023-04-21 · published 2023-04-21T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/36568-the-farmer-s-exchange-online-wasde-growing-cow-numbers-foreshadows-large-milk
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher cheese and butter price forecasts support milk values, but a growing cow herd points to larger future milk supplies. Net effect on dairy prices is modestly bullish in the near term.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2017-06-23 | [The Farmer's Exchange Online USDA Sees Less Milk in 2017-18
and Raises Class 3 Price Forecast](https://feedsoft.ai/events/70507-the-farmer-s-exchange-online-usda-sees-less-milk-in-2017-18-and-raises-class-3.md) | -4.0% | -5.2% |
| MILK | 2022-06-24 | [The Farmer's Exchange Online Cheese, Butter Prices for 2023 Reflect Stronger Demand for Milk](https://feedsoft.ai/events/40945-the-farmer-s-exchange-online-cheese-butter-prices-for-2023-reflect-stronger.md) | -7.2% | -7.3% |
| MILK | 2018-12-07 | [The Farmer's Exchange Online Dairy Margin Reaches Highest Point of Year, but Still Below 2017](https://feedsoft.ai/events/5424-the-farmer-s-exchange-online-dairy-margin-reaches-highest-point-of-year-but.md) | -0.1% | +2.6% |
| MILK | 2025-05-14 | [May WASDE projects increased milk per cow, growth in cow inventories \| Ag Proud](https://feedsoft.ai/events/24680-may-wasde-projects-increased-milk-per-cow-growth-in-cow-inventories-ag-proud.md) | +0.3% | +1.7% |
| MILK | 2019-03-18 | [Conaway Optimistic and WASDE Milk Forecast - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/60253-conaway-optimistic-and-wasde-milk-forecast-ag-information-network-of-the-west.md) | +0.6% | +6.6% |

## Sources

- farmers-exchange.net: http://www.farmers-exchange.net/detailPage.aspx?articleID=22419

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