The latest USDA Livestock, Dairy & Poultry Outlook has lowered the projected prices for cheese and whey due to expectations of increased production and moderate demand.
As cheese production increases, the demand is expected to remain steady, which lowered cheese prices in March to $1.710-$1.770 per pound.
The same supply demand fundamentals were applied to the whey prices which were lowered to 60.0-63.0 cents per pound.
Butter prices were unchanged from last month and stayed at $1.540-$1.630 per pound.
Based on the export outlook for nonfat dry milk, these prices were raised from last month to $1.505 to $1.555 per pound.
Based on the lower cheese and whey prices the Class III price forecast settled at $17.55-$18.15 per cwt.
The Class IV price was raised to $17.35-$18.05 per cwt as a higher export forecast supports the butter and NDM prices. The all milk price saw little change from last month and is projected at $19.00-$19.60 per cwt, despite greater milk production forecast in March.