The latest USDA World Supply and Demand Estimates report is
projecting slower growth in US milk production for both 2024 and 2025,
with slower growth in per-cow production countering increasing cow
numbers. The report also expects export sales to increase, with
stronger overall demand driving up commodity prices. The all-milk price
was increased to $22.25 for 2024 and to $22.260 for 2025.