In February and March of 2024, an unusual illness began affecting dairy herds primarily in Texas and neighboring states. The causative agent of this illness was ultimately confirmed in late March 2024 to be a strain of highly pathogenic avian influenza H5N1 belonging to clade 2.3.4.4b. In the months following the emergence of this viral disease in cattle, infections have spread to at least 191 herds in 13 states at the time of this writing in August 2024, primarily through cattle and human movement. Surprisingly, early examination of raw milk samples from clinically affected animals indicated that the virus had an affinity for the mammary tissue, and viral shedding into raw milk occurred at high levels, exceeding 108 log10 50% tissue culture infectious dose (TCID50) in some cases. These high viral loads coupled with evidence that farm cats who consumed raw milk from clinically ill animals were infected and exhibited high mortality rates, raised concerns about the safety of the US milk supply for human consumption. To date, 4 cow-associated human infections have been reported, all from farm employees with direct contact with infected animals. Several parameters ultimately affect the theoretical public health risk from consumption of dairy products manufactured from a milk supply containing H5N1, namely (1) initial viral load, (2) persistence of H5N1 in raw milk, (3) viral inactivation through processing practices including pasteurization, and (4) human susceptibility and infectious dose. In the short period since the emergence of this disease in dairy cattle in the United States, research has begun to answer these critical questions, although our knowledge is still quite limited at this time. Here we review the literature available from the current H5N1 outbreak in US dairy cattle, as well as selected relevant literature from previous research in other animal agriculture sectors, that affect our current understanding of the parameters associated with the food safety risk of this disease in the US dairy supply chain.