# Dairy Economic Update: Less milk forecast -  | Ag Proud

> USDA's May WASDE cut its 2017 US milk production forecast by about 400 million pounds to 216.9 billion, and it issued a first 2018 forecast of 222.0 billion. USDA also projected a 2017 US corn crop of 14.1 billion bushels, down from last year's record on lower area and yield.

- Date: 2017-05-12 · published 2017-05-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/71017-dairy-economic-update-less-milk-forecast-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A smaller milk supply and corn crop tighten feed and dairy balance sheets, which supports milk and corn prices.

## Read by commodity

- CORN: bullish ▲
- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2017-08-02 | [August dairy economic update: MPP-Dairy margin rebounds -  \| Ag Proud](https://feedsoft.ai/events/5479-august-dairy-economic-update-mpp-dairy-margin-rebounds-ag-proud.md) | +4.8% | +6.7% |
| 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 | 2020-07-10 | [Economic Update: USDA cuts milk production forecast for 2020, with price outlook improved - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/52125-economic-update-usda-cuts-milk-production-forecast-for-2020-with-price-outlook.md) | +0.2% | -18.0% |
| 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 | 2022-03-08 | [Economic Update: February Class III-IV milk prices higher \| Ag Proud](https://feedsoft.ai/events/42420-economic-update-february-class-iii-iv-milk-prices-higher-ag-proud.md) | -0.9% | +4.2% |
| CORN | 2021-02-10 | [Weekly Digest: 2021 milk production forecast jumps, pushing price expectations lower - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/48801-weekly-digest-2021-milk-production-forecast-jumps-pushing-price-expectations.md) | -3.0% | +2.1% |
| CORN | 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) | +4.5% | +5.3% |
| CORN | 2021-03-01 | [Economic Outlook: 2021 Corn Market Forecast - Corn South](https://feedsoft.ai/events/48142-economic-outlook-2021-corn-market-forecast-corn-south.md) | +0.6% | +5.4% |

## Sources

- agproud.com: https://www.agproud.com/articles/28155-dairy-economic-update-less-milk-forecast

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