The United States Department of Agriculture’s World Agricultural Supply and Demand Estimates, released today, show the all-milk price could soften 40¢/cwt in 2015 compared to the February estimate.
USDA now believes the all-milk price will average in the range from $17.05 to $17.65/cwt this year.
The agency also believes milk production will total 211.1 billion lb. this year, down 400 million lb. from its February estimate. Commercial exports are also expected to total 37.3 billion lb. on a skim solids basis, down 700 million lb. from the February estimate, and down 1.9 billion lb. from actual sales in 2014.
You can read the full report here.