# The Farmer's Exchange Online Cheese, Butter Prices for 2023 Reflect Stronger Demand for Milk

> Lee Mielke reports that USDA cut its 2022 and 2023 milk production estimates in the June WASDE. Price forecasts for cheese, butter and nonfat dry milk were raised, while the whey forecast was lowered. Cheese is now projected at $2.1950/lb for 2022 and butter at $2.7650/lb.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/40945-the-farmer-s-exchange-online-cheese-butter-prices-for-2023-reflect-stronger
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower milk output combined with higher product price forecasts points to firmer dairy prices and stronger Class III and IV milk values. Dairy demand for feed ingredients should remain steady.

## 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 | 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 | 2023-04-21 | [The Farmer's Exchange Online WASDE: Growing Cow Numbers Foreshadows Large Milk Increase](https://feedsoft.ai/events/36568-the-farmer-s-exchange-online-wasde-growing-cow-numbers-foreshadows-large-milk.md) | -0.2% | -13.3% |
| MILK | 2024-02-09 | [Cheese, butter, nonfat dry milk and whey price forecasts were raised](https://feedsoft.ai/events/31683-cheese-butter-nonfat-dry-milk-and-whey-price-forecasts-were-raised.md) | +0.4% | +2.8% |
| MILK | 2019-04-10 | [Dairy Economic Update: Lower milk production forecast, stronger cheese demand adds some support to prices - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/59602-dairy-economic-update-lower-milk-production-forecast-stronger-cheese-demand.md) | +0.0% | +2.9% |

## Sources

- farmers-exchange.net: http://www.farmers-exchange.net/detailPage.aspx?articleID=21621

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