The all-milk price in June 2022 was $26.90 per hundredweight (cwt), $0.40 lower than May, but $8.70 higher than June 2021. With higher-than-expected milk production, the all-milk price forecast for 2022 and has been lowered to $25.20 per cwt (-95 cents), and the 2023 forecast has been lowered to $22.50 per cwt (-$1.65). The milk production forecasts for 2022 and 2023 have been raised due to a higher expected number of cows and higher milk productivity per cow. Lower expected prices for dairy products should boost their demand; thus, the domestic use for dairy products was adjusted higher for 2022 and 2023.
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