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The USDA weekly dairy report for June 29 to July 3 showed butter, cheese and nonfat dry milk prices with mixed weekly averages. May production data showed cheese up 2.0% year over year, butter up 3.5%, and NDM for human food up 10.3%.
Rising production across cheese, butter and powder points to ample dairy supply, a mildly bearish signal for milk prices and dairy-linked feed demand.
indexbox.ioJul 6, 2026After 273 past bearish report events, Milk (Class III) 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.
