meta Lower Production, Higher Prices Lowers USDA Overall Outlook | The Bullvine
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Lower Production, Higher Prices Lowers USDA Overall Outlook

Wednesday, September 14th, 2022
Due to lower cow inventories, USDA has reduced its predictions for milk output in 2022 and 2023. The agency predicts a slight improvement in yield per cow in the latter half of this year, but not enough to make up for a reduced herd.

The USDA increased the prices of butter and nonfat dry milk in its September supply and demand report due to marginally better pricing, while leaving the prices of cheese and whey unchanged. The agency anticipates a rise in butter and nonfat dry milk costs the next year due to limited supply. For 2023, cheese prices were reduced but whey prices remained constant.

Due to improved component values, the USDA predicts that Class III and Class IV prices will rise this year. While the Class IV price increased due to rising butter costs, the Class III price in 2023 remained the same.

The forecasted price for all milk in 2022 was increased by 25 cents to $25.45 per hundredweight, while the price in 2023 was raised by 20 cents to $22.70.

(T5, D1)

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