Dairy price | Dairy price strength could continue

The all milk price for this year improved by 75 cents to $23.05 per hundredweight.

The USDA does not expect milk production to increase through at least 2025 and farmers should benefit.

In its latest supply and demand report, the department says lower cow numbers and slower production increases per cow are likely.

Expectations for butter, cheese, nonfat dry milk, and whey prices were raised for 2024 because of recent price strength and the reduced milk supply. The Class III and Class IV prices were also increased.

The all milk price for this year improved by 75 cents to $23.05 per hundredweight.

USDA expects strong demand to continue into next year and boost butter, cheese, nonfat dry milk, and whey prices. Class III and Class IV prices for 2025 were also raised.

The 2025 all milk price forecast increased 60 cents to $23.45 per hundredweight.

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