# USDA Hikes 2025, 2026 Milk Production Forecasts, Lowers Most Dairy Product Price Forecasts - Cheese Reporter

> USDA's November supply-demand report raised its 2025 milk production forecast by 1.4 billion pounds to 31.4 billion and its 2026 forecast by 3.0 billion pounds to 234.4 billion. It cut most dairy product price forecasts, including butter to $2.22 per pound and cheese to $1.805, and lowered the 2025 Class III price to $18.15 per cwt.

- Date: 2025-11-14 · published 2025-11-14T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/21954-usda-hikes-2025-2026-milk-production-forecasts-lowers-most-dairy-product-price
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher milk supply with lower product prices points to weaker dairy returns and softer milk prices for buyers. Dry whey was the exception, with its price forecast raised on strong demand.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-04-11 | [USDA Hikes 2025 Milk Production Forecast, Lowers Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/25122-usda-hikes-2025-milk-production-forecast-lowers-dairy-product-price-forecasts.md) | +0.8% | +6.8% |
| MILK | 2025-06-12 | [USDA Hikes 2025, 2026 Milk Production Forecasts, Most Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/24217-usda-hikes-2025-2026-milk-production-forecasts-most-price-forecasts-cheese.md) | -0.7% | -7.6% |
| MILK | 2026-01-16 | [USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter](https://feedsoft.ai/events/21068-usda-hikes-2026-milk-production-forecast-dairy-product-price-forecasts-mixed.md) | -0.3% | +2.2% |
| MILK | 2026-07-10 | [USDA Raises 2026, 2027 Milk Production Forecasts, Lowers Most Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/18336-usda-raises-2026-2027-milk-production-forecasts-lowers-most-price-forecasts.md) | +0.4% | +6.4% |
| MILK | 2025-07-11 | [USDA Hikes 2025, 2026 Milk Production Forecasts; Most Price Forecasts Also Raised - Cheese Reporter](https://feedsoft.ai/events/23755-usda-hikes-2025-2026-milk-production-forecasts-most-price-forecasts-also-raised.md) | +0.3% | -0.1% |

## Sources

- cheesereporter.com: https://cheesereporter.com/news/2025/11/14/usda-hikes-2025-2026-milk-production-forecasts-lowers-most-dairy-product-price-forecasts/

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