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USDA's May WASDE report raised its 2025 milk production forecast to 227.3 billion pounds on a larger cow herd and higher output per cow. The 2025 Class III price forecast rose to $18.70 per cwt and the Class IV price to $18.45, with the all-milk price up 50 cents to $21.60.
Dairy product prices for 2026 are forecast lower.
Higher 2025 price forecasts support the market, but growing production and lower 2026 prices suggest the upside may be limited.
agproud.comAudrey SchmitzMay 14, 2025After 237 past bullish report events, MILK moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
