USDA dairy forecast raised on stronger demand

Milk production forecast remains unchanged
calendar icon 29 December 2022
clock icon 1 minute read

According to a recent USDA Economic Research Service (ERS) report, the all-milk price forecasts for 2022 and 2023 have been raised on stronger expected demand for US dairy products. 

The 2022 all-milk price forecast is raised to $25.65 per hundredweight (cwt), up 15 cents from the previous month’s forecast, while the 2023 all-milk price is raised to $22.70 per cwt, up 10 cents. 

The 2022 milk production forecast is unchanged from last month, but the milk production projection for 2023 is increased by 0.3 billion pounds, with higher expected cow numbers and slightly faster growth of yield per cow.

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