The USDA raised its milk production forecasts for both 2019 and 2020 from the previous month, based on stronger milk production per cow than expected, according to the latest USDA World Agricultural Supply and Demand Estimates report. Export forecasts were lowered for most dairy products, while price forecasts for cheese and nonfat dry milk were increased based on strengthening demand. The 2019 all-milk price forecast was raised 20 cents from the previous month to $18.60 per hundredweight, while the 2020 all-milk price forecast remained at $18.85
per hundredweight. Read More