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Lee Mielke's weekly column reports USDA raised 2025 and 2026 milk production forecasts on higher cow numbers and output per cow. The 2025 Class III milk price was projected at $18.50 per hundredweight, down 15 cents.
USDA also cut 2025-26 corn ending stocks by 90 million bushels while raising exports to a projected record 2.8 billion bushels.
Higher milk output pressures dairy prices, while the lower corn ending stocks and record export forecast support corn values for feed buyers.
dairystar.comLee MielkeJul 26, 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.
After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
