# Milk Prices Improve, but Volatility Ramps Up - American AgCredit

> American AgCredit reports that the 2026 milk price outlook has improved since the start of the year, with whey markets climbing steadily and nonfat dry milk rising suddenly. U.S. milk production was up 2.8% for 2025 and January 2026 output rose 3.4% from a year earlier with a herd 189,000 head larger. Cheese and butter prices remain low compared with last year.

- Date: 2026-03-23 · published 2026-03-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10953-milk-prices-improve-but-volatility-ramps-up-american-agcredit
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Strong supply growth heading into the spring flush limits upside in milk prices even as product markets rebalance. The mix of rising whey and weak cheese and butter values leaves the price path volatile for dairy feed buyers.

## Read by commodity

- MILK: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2026-04-01 | 5 | +9.8% | 3.7 | Whey rising steadily and NFDM jumping improved the milk price outlook, supporting Class III component values and futures. |

## Sources

- agloan.com: https://www.agloan.com/milk-prices-improve-but-volatility-ramps-up/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.