# Economic Update: USDA cuts milk production forecast for 2020, with price outlook improved - Progressive Dairy | Ag Proud

> USDA's July WASDE cut its 2020 US milk production forecast by 1 billion pounds to 221.5 billion, and raised the Class III price to $18 per cwt, up $2.35. The all-milk price was raised to $18.25 per cwt, with the Class IV forecast up 40 cents to $13.95.

- Date: 2020-07-10 · published 2020-07-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/52125-economic-update-usda-cuts-milk-production-forecast-for-2020-with-price-outlook
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller US milk supply and higher price forecasts support dairy markets and raise the cost outlook for dairy-based feed and cattle producers.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-06-10 | [Economic Update: USDA cuts 2022-23 milk production forecasts, raises price projections \| Ag Proud](https://feedsoft.ai/events/41104-economic-update-usda-cuts-2022-23-milk-production-forecasts-raises-price.md) | -0.5% | -6.9% |
| MILK | 2019-12-11 | [2020 milk price outlook improves - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/55581-2020-milk-price-outlook-improves-progressive-dairy-ag-proud.md) | -0.3% | -12.8% |
| MILK | 2021-09-11 | [USDA outlook reduces milk production estimates, forecasts better margins - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/45074-usda-outlook-reduces-milk-production-estimates-forecasts-better-margins.md) | +0.1% | +8.7% |
| MILK | 2021-11-10 | [Weekly Digest: USDA outlook sees deeper milk production cuts - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/44057-weekly-digest-usda-outlook-sees-deeper-milk-production-cuts-progressive-dairy.md) | -0.8% | +2.7% |

## Sources

- agproud.com: https://www.agproud.com/articles/36569-economic-update-usda-cuts-milk-production-forecast-for-2020-with-price-outlook-improved

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