News

2018 U.S. milk production & price estimates down

The USDA has lowered its projected 2018 milk production estimates and projected 2018 milk prices.

In the WASDE report issued Friday, USDA expects reduced or slower growth in the U.S. herd size and continued slow growth in milk production per cow.

The all-milk price for 2018 is expected to be between $15.80 and $16.60 per hundredweight, with Class three and four lower because of lower cheese and butter prices.

USDA also anticipates reduced butter imports, but increased dairy product exports including butter with robust demand for U.S. dairy fat-containing products.  The report also shows reduced demand for milk protein concentrates and higher demand for skim solids.