# Global demand for butter, cheese rising

> Analyst Dan Basse projects 2022 US all-milk prices above $20/cwt, the first such USDA-level projection since 2016. He cites a shrinking US dairy herd, down 81,000 cows since May, lower global milk output and rising dairy demand.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/44059-global-demand-for-butter-cheese-rising
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A contracting herd and rising global demand for butter and cheese support higher milk prices, which strengthens dairy producers' feed purchasing power.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-04-18 | [Global prices could net $18.60 over the next decade](https://feedsoft.ai/events/59606-global-prices-could-net-18-60-over-the-next-decade.md) | +0.4% | +2.3% |
| MILK | 2021-12-22 | [US butter market shifting from abundance to scarcity \| Dairy Processing](https://feedsoft.ai/events/43597-us-butter-market-shifting-from-abundance-to-scarcity-dairy-processing.md) | -0.3% | +9.6% |
| MILK | 2018-08-27 | [3 factors will determine fate of milk prices for remainder of 2018](https://feedsoft.ai/events/63537-3-factors-will-determine-fate-of-milk-prices-for-remainder-of-2018.md) | +9.9% | +7.3% |
| MILK | 2017-02-11 | [Cheesier pizzas rescue dairy prices as Americans drink less milk - The Gazette](https://feedsoft.ai/events/72656-cheesier-pizzas-rescue-dairy-prices-as-americans-drink-less-milk-the-gazette.md) | +0.1% | -7.0% |
| MILK | 2026-04-21 | [What’s Driving a Better Dairy Outlook in the Second Half of 2026 - Dairy Herd](https://feedsoft.ai/events/19873-what-s-driving-a-better-dairy-outlook-in-the-second-half-of-2026-dairy-herd.md) | -0.0% | +0.6% |

## Sources

- farmprogress.com: https://www.farmprogress.com/management/global-demand-for-butter-cheese-rising

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