The milk production forecast for 2025 is reduced on lower expected output per cow more than offsetting slightly higher cow inventories. Imports are unchanged on a fat basis and reduced on a skim-solids basis.
Exports are lowered on a fat basis, primarily due to lower cheese exports. On a skim-solids basis, exports are lowered due to lower expected shipments of cheese, dry skim milk products, and lactose. Domestic use is increased on both a fat and skim-solids basis. Cheese, butter, nonfat dry milk (NDM), and whey price forecasts are all lowered on recent prices. The Class III price is lowered on the lower price expectations for cheese and whey. The Class IV price is also reduced due to lower butter and NDM prices. The all milk price estimate for 2025 is lowered to $21.60 per cwt.
Be the first to comment