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The USDA raised its 2026 US milk production forecast by 1.0 billion pounds to 236.4 billion, with higher cow numbers and milk per cow. It lowered cheddar, nonfat dry milk and whey price forecasts, while raising the butter forecast, and cut the 2026 Class III forecast to $16.60 per hundredweight.
Larger expected milk output and lower product price forecasts point to weaker dairy prices, which lowers the value of dairy-linked feed demand.
thedairysite.comMelanie EppJul 10, 2026After 273 past bearish report events, MILK moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
