A couple of weeks ago, there was a not so happy outlook for Idaho’s dairy producers, but good news apparently has arrived.
For the approximately 20,000 or so dairy producers in the U.S.. Overall story is one of relatively tighter supplies, strong product demand, and higher prices nearly across the board. USDA Outlook Board Chairman Mark Jekanowski) says the market’s been so strong, his group has had to go in and keep raising its forecasts for milk and dairy product prices.
Usda forecasting the all milk price for this year to average $22 and a quarter per hundredweight, $0.65 higher than was forecast a month ago. Speaker2: And then, looking ahead into 2025, the all milk price is expected to remain strong $22.50 per hundredweight, up $0.25 year over year. And we raised that price forecast by a dollar per hundredweight this month.
Speaker1: All of this with a projected 1% increase in milk output next year. Speaker2: Prices are currently strong and they expect to remain relatively strong into next year. We’re seeing a lot of strength in cheese prices recently.
In 2024, cheese price forecast is at $1.82 per pound into next year, IT strength is expected to continue $1.86 per pound. Butter prices strong as well.
We’re currently have a price forecast of $3 per pound for butter for 2024 and remaining relatively strong into 2025 at $2.96. So down just a bit.
You can now read the most important #news on #eDairyNews #Whatsapp channels!!!
🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K
