See the latest Livestock, Dairy, and Poultry Outlook report.
Summary
Dairy: The all-milk price in May 2022 was $27.30 per hundredweight (cwt), $0.20 higher than April and $8.20 higher than May 2021. The all-milk price forecast for 2022 and has been lowered to $26.15 per cwt (-5 cents), but the 2023 forecast has been raised to $24.15 per cwt (+35 cents). The milk production forecasts for 2022 and 2023 have been decreased as lower expected yield per cow more than offsets steady expected milk cow numbers. Due to higher prices, which should be reflected at retail level, the domestic use for dairy products was adjusted lower for 2022 and 2023.
