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Mar 13, 2026REPORTUS

USDA Raises 2026 Milk Production Forecast, Most Dairy Product Price Forecasts

USDA's monthly WASDE report raised its 2026 milk production forecast to 234.7 billion pounds and lifted most dairy product price forecasts. The Class III forecast was unchanged at $16.65/cwt, while the Class IV forecast rose to $17.15/cwt and the all-milk price to $19.70/cwt.

WHY IT MATTERS

Higher cheese, butter and nonfat dry milk price forecasts point to firmer milk values for producers, while rising output limits the upside.

AFFECTSMilk (Class III)▲

SOURCE
cheesereporter.comCaroline StahlMar 13, 2026

Price reaction & history

Milk (Class III)▲bullishSO FAR1d +0.1%5d -0.2%20d +5.4%

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

Apr 10, 2026USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter-1.1%
Feb 12, 2026USDA Hikes 2026 Milk Production Forecast, Also Boosts Dairy Product, Milk Price Forecasts - Cheese Reporter-0.3%
Jan 10, 2025USDA Lowers 2025 Milk Production Forecast, Hikes Dairy Product, Milk Price Forecasts - Cheese Reporter-0.6%
Feb 12, 2025USDA Hikes 2025 Cheese Price Forecast, Lowers Other Product, Milk Price Forecasts - Cheese Reporter+0.5%
May 16, 2025USDA Hikes 2025 Dairy Price Forecasts, Expects Lower Prices In 2026 - Cheese Reporter-0.1%

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.

Milk (Class III) MILK · GP ▸

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