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USDA's Economic Research Service released delayed December and January supply and utilization data showing record January cheese utilization of 1.29 billion pounds, up 5.7%. Butter disappearance exceeded 200 million pounds for the first time, and dry whey use rose 1.9% year over year.
Cheese output is growing faster than consumption.
Record dairy utilization supports demand for milk solids, but cheese output outpacing consumption signals ample supply that can weigh on Class III milk values. The data offers a mixed read on near-term dairy price direction.
thelandonline.comLee MielkeMar 27, 2026After 136 past neutral report events, MILK moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
