USDA projects lower milk production – Voice Of Muscatine

USDA projects lower milk production

The USDA is expecting lower 2024 milk production to be partially offset by higher cow inventories.  Their latest supply and demand report says the estimated 2023 all-milk price is down to $20.48 per hundredweight and the forecasted 2024 all-milk price is up to $20.95 per hundredweight.

On a fat basis, domestic use and fat-basis exports are both raised, with higher expected butter and cheese exports, as the United States is expected to be competitive on the international market.  

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