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The USDA resumed its monthly WASDE report on November 14 after the government shutdown. It raised the 2025 milk production forecast by 1.4 billion pounds and lowered butter, cheese and nonfat dry milk price forecasts, along with the Class III and Class IV milk prices.
Higher production and lower product price forecasts point to weaker milk prices into 2026. Buyers and dairy producers should expect continued pressure on milk returns.
agproud.comAudrey SchmitzNov 14, 2025After 273 past bearish report events, MILK 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.
