# 2020 milk price takes a hit in latest USDA outlook report - Progressive Dairy | Ag Proud

> USDA's March WASDE raised its 2020 milk production forecast to 222.3 billion pounds on larger expected cow numbers. Projected 2020 prices for cheese, butter and nonfat dry milk were cut, leaving the Class III forecast at $16.65/cwt and Class IV at $15.75/cwt.

- Date: 2020-03-10 · published 2020-03-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/54149-2020-milk-price-takes-a-hit-in-latest-usda-outlook-report-progressive-dairy-ag
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher milk supply and lower projected product prices point to weaker farm milk prices in 2020, which lowers the cost outlook for dairy-based feed ingredients.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2020-12-11 | [USDA 2021 milk price outlook weakens - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/49806-usda-2021-milk-price-outlook-weakens-progressive-dairy-ag-proud.md) | -1.0% | +4.8% |
| MILK | 2021-07-13 | [USDA adjusts 2021-22 milk production outlooks, cuts price projections - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/46213-usda-adjusts-2021-22-milk-production-outlooks-cuts-price-projections.md) | -1.2% | -4.8% |
| MILK | 2020-05-13 | [USDA milk production, price estimates inch higher; hay inventories are stronger - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/53132-usda-milk-production-price-estimates-inch-higher-hay-inventories-are-stronger.md) | +4.6% | +73.5% |
| MILK | 2020-09-03 | [August Class III milk price falls - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/51263-august-class-iii-milk-price-falls-progressive-dairy-ag-proud.md) | -0.7% | +20.3% |
| MILK | 2020-09-11 | [USDA: Milk output forecast raised; smaller harvest boosts feed price projections - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/51235-usda-milk-output-forecast-raised-smaller-harvest-boosts-feed-price-projections.md) | -1.6% | +24.9% |

## Sources

- agproud.com: https://www.agproud.com/articles/36927-2020-milk-price-takes-a-hit-in-latest-usda-outlook-report

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