# Milk price projections lowered - Dairy Star

> USDA lowered its 2024 and 2025 milk production forecasts and cut Class III and IV price projections; the 2024 Class III average is now $19.05/cwt. USDA also projected a near-record 15.2 billion bushel corn crop with ending stocks cut to 2 billion bushels and a record 4.6 billion bushel soybean crop.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/4683-milk-price-projections-lowered-dairy-star
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower milk output and dairy prices reduce dairy feed demand, while a large US corn and soybean crop with higher exports supports ample feed grain supply and softer prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2024-10-30 | 5 | -11.5% | -4.0 | USDA cut Class III and IV price projections on Oct 28, with a 2024 Class III average of $19.05, which weighed on sentiment and futures despite lower production forecasts. |
| MILK | 2024-11-05 | 5 | -12.3% | -3.8 | USDA cut Class III and IV price projections, which lowered sentiment and forward price expectations. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-01-10 | [Milk prices lower again - Dairy Star](https://feedsoft.ai/events/21215-milk-prices-lower-again-dairy-star.md) | -0.8% | +2.4% |
| 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 | 2025-08-23 | [Milk, corn supply projections increased - Dairy Star](https://feedsoft.ai/events/23335-milk-corn-supply-projections-increased-dairy-star.md) | -0.7% | +1.5% |
| MILK | 2026-01-02 | [Milk Prices Lowered, Dry Products Look Strong](https://feedsoft.ai/events/21220-milk-prices-lowered-dry-products-look-strong.md) | -2.2% | -3.9% |
| MILK | 2026-03-28 | [Milk production rising in major export regions - Dairy Star](https://feedsoft.ai/events/6430-milk-production-rising-in-major-export-regions-dairy-star.md) | +8.7% | +4.3% |
| CORN | 2020-04-30 | [Corn price projection turns ugly](https://feedsoft.ai/events/53666-corn-price-projection-turns-ugly.md) | +1.9% | +2.3% |
| CORN | 2019-05-13 | [May 10 WASDE Report Projects Lower Grain Prices - MinnStar Bank](https://feedsoft.ai/events/59047-may-10-wasde-report-projects-lower-grain-prices-minnstar-bank.md) | +6.9% | +11.9% |
| CORN | 2024-01-16 | [USDA lowers price expectations – AgriNews](https://feedsoft.ai/events/32155-usda-lowers-price-expectations-agrinews.md) | -0.4% | -5.4% |

## Sources

- dairystar.com: https://dairystar.com/stories/milk-price-projections-lowered,25954

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