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USDA raised its 2024 and 2025 U.S. dairy price forecasts in the latest WASDE, citing slower growth in milk per cow and tighter milk supplies. Class III and Class IV milk price projections were both raised, with 2025 Class III now seen at $18.45 per cwt.
Higher USDA price forecasts and reduced milk output point to firmer milk and dairy product prices, which lifts farm milk checks and the cost of dairy-based feed ingredients.
dairystar.comLee MielkeJul 27, 2024After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
USDA's WASDE raised 2024-25 Class III forecasts on tighter milk supplies, reinforcing bullish fundamentals ahead of the move, though published several days earlier.
USDA's higher Class III and IV forecasts in the WASDE on tighter milk supplies reinforced bullish sentiment and price expectations.
