Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Dairy: The 2024 forecasts for the average number of milk cows, milk per cow, and total milk production are raised to 9.345 million head, 24,330 pounds, and 227.3 billion pounds, respectively. The 2024 price forecasts for Cheddar cheese and butter are also raised, while the forecasts for nonfat dry milk and dry whey prices are lowered. Overall, the 2024 forecast for the all-milk price is raised by $0.30 to $21.20 per hundredweight (cwt). For 2025, milk production is projected year-over-year higher due to elevated projections for both the dairy herd and milk per cow. The wholesale prices for the main dairy products are projected year-over-year lower. The 2025 all-milk price is projected at $20.90 cents per cwt.

Livestock, Dairy, and Poultry Outlook: May 2024 Feed Outlook: May 2024 Cover Crops on Livestock Operations: Potential for Expansion in the United States Livestock, Dairy, and Poultry Outlook: April 2024 Feed Outlook: April 2024

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Organic Dairy and Beef Producers Face Limited Markets, Feed Grain Shortages U.S. Dairy Productivity Increased Faster in Large Farms and Across Southwestern States Farm Milk Components and Their Use Among Dairy Products Have Shifted Over Time Growth in U.S. Dairy Product Exports to Southeast Asia Depends on Competition With Other Major Dairy Exporters Plant-Based Products Replacing Cow’s Milk, But the Impact Is Small

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Dairy Data Milk Cost of Production Estimates Feed Grains Database Livestock and Meat Domestic Data Farm Income and Wealth Statistics

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Cattle & Beef Corn and Other Feed Grains Farm & Commodity Policy Agricultural Baseline Commodity Outlook