# Cow numbers drop, milk prices begin to rise

> USDA's dairy outlook forecasts 2019 Class III milk at $14.70 to $15.40 per cwt, versus $14.61 in 2018. The milk cow herd fell to 9.35 million head in December, the smallest since November 2016. Year-end cheese stocks were 5% above a year earlier, while butter stocks were 6.2% higher.

- Date: 2019-02-28 · published 2019-02-28T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/60592-cow-numbers-drop-milk-prices-begin-to-rise
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller herd and a higher Class III forecast point to firmer milk prices, which can support dairy demand for feed. Heavy cheese and butter stocks limit how far prices can rise.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-05-31 | [Milk prices continue to strengthen](https://feedsoft.ai/events/59082-milk-prices-continue-to-strengthen.md) | -1.0% | -0.7% |
| MILK | 2021-03-04 | [Are milk prices about to rally again?](https://feedsoft.ai/events/7532-are-milk-prices-about-to-rally-again.md) | -0.7% | +7.3% |
| MILK | 2018-06-01 | [Milk prices continue to climb higher](https://feedsoft.ai/events/9758-milk-prices-continue-to-climb-higher.md) | -1.0% | -2.1% |
| MILK | 2026-05-14 | [April uniform milk prices, PPDs rise \| Ag Proud](https://feedsoft.ai/events/19417-april-uniform-milk-prices-ppds-rise-ag-proud.md) | -0.9% | -6.3% |
| MILK | 2022-06-02 | [Milk prices strong for now - Morrow County Grain Growers](https://feedsoft.ai/events/6233-milk-prices-strong-for-now-morrow-county-grain-growers.md) | -3.6% | -10.6% |

## Sources

- farmprogress.com: https://www.farmprogress.com/dairy-cattle/cow-numbers-drop-milk-prices-begin-to-rise

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