# Economic Update: USDA cuts 2022-23 milk production forecasts, raises price projections | Ag Proud

> USDA's June 10 WASDE cut its 2022 U.S. milk production forecast by 300 million pounds to 226.4 billion pounds, due to slower growth in milk per cow. It also raised farm-level price projections, with the 2022 Class III average at $22.90 per cwt and the all-milk price at $26.20.

- Date: 2022-06-10 · published 2022-06-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/41104-economic-update-usda-cuts-2022-23-milk-production-forecasts-raises-price
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller milk supply and higher price forecasts point to tighter dairy markets and stronger prices for milk and dairy products. Higher milk prices also raise the value of dairy-based feed ingredients for buyers.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2020-07-10 | [Economic Update: USDA cuts milk production forecast for 2020, with price outlook improved - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/52125-economic-update-usda-cuts-milk-production-forecast-for-2020-with-price-outlook.md) | +0.2% | -18.0% |
| MILK | 2021-10-12 | [Economic Update: USDA outlook cuts milk production estimates, brightens price forecast - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/44698-economic-update-usda-outlook-cuts-milk-production-estimates-brightens-price.md) | -0.1% | +0.7% |
| MILK | 2026-03-10 | [USDA boosts 2026 milk production forecast as prices strengthen  \| Ag Proud](https://feedsoft.ai/events/20169-usda-boosts-2026-milk-production-forecast-as-prices-strengthen-ag-proud.md) | -1.5% | +5.6% |
| MILK | 2026-03-13 | [USDA Raises 2026 Milk Production Forecast, Most Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/20167-usda-raises-2026-milk-production-forecast-most-dairy-product-price-forecasts.md) | -0.2% | +5.4% |
| MILK | 2017-05-12 | [Dairy Economic Update: Less milk forecast -  \| Ag Proud](https://feedsoft.ai/events/71017-dairy-economic-update-less-milk-forecast-ag-proud.md) | 0.0% | +4.3% |

## Sources

- agproud.com: https://www.agproud.com/articles/54266-economic-update-usda-cuts-2022-23-milk-production-forecasts-raises-price-projections

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