# USDA reduces 2023 milk production, price projections  | Ag Proud

> USDA's February WASDE lowered 2023 US milk production by 900 million pounds to 228.3 billion pounds. The agency also cut its 2023 Class III price forecast by 95 cents to $17.90 per cwt and its all-milk price forecast to $20.70.

- Date: 2023-02-08 · published 2023-02-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37464-usda-reduces-2023-milk-production-price-projections-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower milk output is offset by weak domestic demand and international price pressure, so the net outlook is for lower dairy prices, which reduces dairy-related feed demand.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2021-08-12 | [USDA cuts 2021-22 milk production outlook but also reduces price projections  \| Ag Proud](https://feedsoft.ai/events/45567-usda-cuts-2021-22-milk-production-outlook-but-also-reduces-price-projections-ag.md) | +0.3% | +3.0% |
| MILK | 2018-07-13 | [USDA cuts 2018 and 2019 milk price projections, production forecasts -  \| Ag Proud](https://feedsoft.ai/events/64032-usda-cuts-2018-and-2019-milk-price-projections-production-forecasts-ag-proud.md) | -0.6% | +4.8% |
| MILK | 2024-12-11 | [USDA projections highlight increased milk production \| Ag Proud](https://feedsoft.ai/events/26969-usda-projections-highlight-increased-milk-production-ag-proud.md) | -0.5% | +8.4% |
| MILK | 2024-01-15 | [USDA milk production, price outlooks remain stagnant \| Ag Proud](https://feedsoft.ai/events/32119-usda-milk-production-price-outlooks-remain-stagnant-ag-proud.md) | +0.4% | +7.0% |
| 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

- agproud.com: https://www.agproud.com/articles/56962-usda-reduces-2023-milk-production-price-projections

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