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Nearby Class III milk futures fell below $17 per cwt as US milk production rose 3.4% year over year in July, with more cows and higher output per cow. Cheese exports were up 29% and butter exports were the highest since the mid-1990s, providing some support.
Demand has mostly held firm.
Heavy milk supply is pressuring futures and dairy product prices, which lowers farm milk values. Strong cheese and butter exports limit the downside.
farmprogress.comNaomi BlohmSep 10, 2025Not enough comparable past events yet for a historical read.
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.
