Market Outlook

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

Summary

Dairy: The milk production forecasts for 2022 and 2023 have been adjusted lower based on lower anticipated milk yield per cow. Lactose exports reached a record high in April 2022 totaling 95.8 million pounds. Price forecasts have been raised for cheese, butter, and nonfat dry milk; the dry whey price forecast is unchanged. The all-milk price forecast for 2022 is $26.20 per hundredweight (cwt), 45 cents above the May forecast and $7.67 higher than the 2021 average price. The all-milk price forecast for 2023 is $23.80 per cwt, an increase of 25 cents from last month’s forecast but $2.40 lower than the 2022 forecast.