
The March 10 WASDE raised 2026 milk production to 234.7 billion pounds and lifted cheese, butter and nonfat dry milk price forecasts. The all-milk price was raised 75 cents to $19.70/cwt, and beef production was forecast lower on slower slaughter.
Stronger dairy price forecasts support milk values, while the lower beef output outlook supports cattle prices.
After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% 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.