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USDA's June WASDE raised its 2026 and 2027 U.S. milk production forecasts by 1.0 billion pounds each, to 236.4 and 237.0 billion pounds. It lowered its 2026 Class III and Class IV milk price forecasts to $16.60 and $19.35 per cwt.
Rabobank also expects slowing global milk output.
Higher U.S. output and lower product price forecasts are bearish for milk prices, while Rabobank's view of slowing global supply growth offers some offset. Net effect is softer U.S. milk prices in the near term.
cheesereporter.comCaroline StahlJun 12, 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.
