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The July 2025 USDA Livestock, Dairy, and Poultry Outlook shows early-July wholesale prices with butter rising to $2.57/lb and nonfat dry milk at $1.28/lb, while cheddar fell 10 cents to $1.83/lb. Butter prices are also high in Oceania and Europe, and US herd expansion and rising production are continuing through 2026.
Higher butter and powder values alongside expanding US output point to mixed signals for milk returns, with cheese weakness pulling the other way.
dairyproducer.comTanya EadieJul 21, 2025After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
