Market Outlook

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

Summary

Dairy: The all-milk price forecast for 2022 has been adjusted to $25.75 per hundredweight (cwt), $0.05 lower than last month’s forecast. The all-milk price forecast for 2023 is $23.55 per cwt, $2.20 lower than 2022 projection. For 2022, wholesale price forecasts for all Cheddar cheese and butter were adjusted up, while prices for dry whey and nonfat dry milk (NDM) were adjusted down. Wholesale price projections for all major dairy products in 2023 are lower than 2022. Milk production for 2022 is projected to total 226.7 billion pounds, 0.4 billion higher than last month’s forecast. In 2023, milk production is estimated at 229.4 billion pounds, 1.2 percent above the 2022 projection.