The milk production forecast for 2024 was adjusted to reflect December domestic and trade data. The 2025 production forecast is reduced due to lower expected cow inventories.
Milk and dairy product price forecasts reflect the updated price formulas of the Federal Milk Marketing Order, as published in the Federal Register on Jan. 17, by the Agricultural Marketing Service. Almost all the changes do not become effective until June 1.
At 225.9 billion pounds, the 2024 production estimate was raised 100 million pounds from last month’s report and would be 500 million pounds less than the 2023 total of 226.4 billion pounds.
By Audrey Schmitz
February 12, 2025
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