# USDA February 2026 Dairy Outlook: Prices, Production & Trade

> USDA's February Dairy Outlook projects a 2026 dairy cow herd of 9.540 million head, 15,000 fewer than last month's estimate. Milk per cow is forecast at 24,585 pounds, 65 pounds higher, lifting total 2026 milk output to 234.5 billion pounds and raising price forecasts.

- Date: 2026-02-18 · published 2026-02-18T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/20614-usda-february-2026-dairy-outlook-prices-production-and-trade
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A smaller herd offset by stronger per-cow output keeps milk supply growing modestly, while firmer price forecasts support milk prices for the year.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-04-21 | [Dairy outlook 2026: Higher milk production and stronger prices](https://feedsoft.ai/events/19713-dairy-outlook-2026-higher-milk-production-and-stronger-prices.md) | -0.0% | +0.6% |
| MILK | 2025-01-22 | [Dairy Outlook: January 2025 - Dairy Producer](https://feedsoft.ai/events/26519-dairy-outlook-january-2025-dairy-producer.md) | +0.2% | +0.2% |
| MILK | 2026-05-12 | [USDA projects more milk production, dairy trade, and higher 2026 milk prices - Brownfield Ag News](https://feedsoft.ai/events/19254-usda-projects-more-milk-production-dairy-trade-and-higher-2026-milk-prices.md) | -0.4% | -5.5% |
| MILK | 2024-02-02 | [February 2, 2024: Milk Production Flat, Prices Rally \| Center for Dairy Excellence](https://feedsoft.ai/events/6010-february-2-2024-milk-production-flat-prices-rally-center-for-dairy-excellence.md) | -1.2% | +2.8% |
| MILK | 2024-03-19 | [Dairy Outlook: March 2024 - Dairy Producer](https://feedsoft.ai/events/31200-dairy-outlook-march-2024-dairy-producer.md) | -0.1% | -5.9% |

## Sources

- dairyproducer.com: https://dairyproducer.com/usda-february-2026-dairy-outlook/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.