# Cheese sales drive U.S. dairy consumption growth

> USDA data show total US domestic milk consumption returned to positive annual growth in the third quarter of 2022 for the first time since early in the year, led by cheese. Dairy export volumes eased from a record pace but are still on track for a record calendar year. CME futures and USDA outlooks point to milk prices $2.50 to $3.00/cwt lower in 2023.

- Date: 2022-11-28 · published 2022-11-28T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/38705-cheese-sales-drive-u-s-dairy-consumption-growth
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Stronger domestic demand supports dairy use, but the projected $2.50 to $3.00/cwt drop in 2023 milk prices signals weaker dairy farm returns and tighter feed budgets.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2017-06-26 | [Cheese inventory hits record; fluid milk consumption takes another hit \| Dairy \| leadertelegram.com](https://feedsoft.ai/events/10590-cheese-inventory-hits-record-fluid-milk-consumption-takes-another-hit-dairy.md) | -3.9% | -5.2% |
| MILK | 2026-07-11 | [Cheese production higher, milk prices lower - Dairy Star](https://feedsoft.ai/events/18337-cheese-production-higher-milk-prices-lower-dairy-star.md) | +0.4% | +7.1% |
| MILK | 2024-05-14 | [2024 All-Milk Price Sees Growth, More Cows and Production Predicted - Dairy Herd](https://feedsoft.ai/events/30251-2024-all-milk-price-sees-growth-more-cows-and-production-predicted-dairy-herd.md) | -0.0% | +5.7% |
| MILK | 2019-02-21 | [December milk production growth slows, milk prices lower - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/60591-december-milk-production-growth-slows-milk-prices-lower-progressive-dairy-ag.md) | +9.3% | +6.6% |
| MILK | 2017-11-21 | [Milk production growth continues -  \| Ag Proud](https://feedsoft.ai/events/9917-milk-production-growth-continues-ag-proud.md) | -9.4% | -8.3% |

## Sources

- wisfarmer.com: https://www.wisfarmer.com/story/news/2022/11/28/cheese-sales-drive-u-s-dairy-consumption-growth/69683148007/

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