# USDA reduces dairy forecasts - Brownfield Ag News

> USDA's November supply and demand report cut its 2018 and 2019 milk production forecasts due to lower cow numbers, partly offset by higher output per cow. It lowered butter and cheese price forecasts for 2018 and cut the 2018 all-milk price range to $16.20-$16.30, down 5 to 15 cents.

- Date: 2018-11-08 · published 2018-11-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/62187-usda-reduces-dairy-forecasts-brownfield-ag-news
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower projected milk output combined with weaker cheese and butter prices points to a bearish outlook for Class III milk and dairy product values, which affects dairy-based feed demand and sentiment for MILK futures.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2021-06-10 | [USDA calls for dairy herd growth - Brownfield Ag News](https://feedsoft.ai/events/46749-usda-calls-for-dairy-herd-growth-brownfield-ag-news.md) | +1.1% | +0.1% |
| MILK | 2021-12-03 | [Dairy product production slows - Brownfield Ag News](https://feedsoft.ai/events/43590-dairy-product-production-slows-brownfield-ag-news.md) | +1.5% | +0.5% |
| MILK | 2023-04-05 | [Most dairy product production up for February - Brownfield Ag News](https://feedsoft.ai/events/36409-most-dairy-product-production-up-for-february-brownfield-ag-news.md) | +3.4% | -7.1% |
| MILK | 2023-04-28 | [2022 record dairy prices were short-lived - Brownfield Ag News](https://feedsoft.ai/events/36407-2022-record-dairy-prices-were-short-lived-brownfield-ag-news.md) | -10.4% | -13.2% |
| MILK | 2026-06-12 | [Growing dairy production limits milk prices in USDA’s outlook - Brownfield Ag News](https://feedsoft.ai/events/18975-growing-dairy-production-limits-milk-prices-in-usda-s-outlook-brownfield-ag-news.md) | +0.3% | -1.6% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/usda-reduces-dairy-forecasts/

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