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Dairy price weakens in latest report
The USDA has pulled back its expectations for higher milk prices.
In its latest supply and demand report, the department says lower milk production per cow is expected through the end of next year.
Recently low butter and cheese prices however have negatively impacted forecasts. USDA expects those weaker prices to continue but increased nonfat dry milk and whey prices through 2025 because of recent price strength and demand potential.
The Class III price was reduced with expectations for lower cheese prices to overhang higher whey prices. USDA also dropped Class IV prices because of lower butter prices outpacing improved nonfat dry milk prices.
The all milk price for this year dropped by 25 cents to $22.80 per hundredweight.
The 2025 all milk price forecast declined 70 cents to $22.75 per hundredweight.
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