# Class III Futures Surge on Weak Milk Production Report - Dairy Herd

> Lower-than-expected U.S. milk production lifted Class III milk futures on April 23, with the May contract rising as high as $18.80 per hundredweight despite weaker spot cheese prices. Spot dry whey climbed to $0.50 per pound while CME cheese blocks slipped to $1.76.

- Date: 2025-04-23 · published 2025-04-23T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/25283-class-iii-futures-surge-on-weak-milk-production-report-dairy-herd
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Tighter milk supply supports Class III prices, while cheese and whey export demand and a wide global price gap give some buyers reason to search for product. Feed buyers should watch for higher dairy-based feed ingredient costs.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2024-08-10 | [Class III futures remain solid - Dairy Star](https://feedsoft.ai/events/28784-class-iii-futures-remain-solid-dairy-star.md) | +0.4% | +12.2% |
| MILK | 2026-04-10 | [USDA Hikes 2026 Milk Production Forecast; Dairy Product Price Forecasts Mixed - Cheese Reporter](https://feedsoft.ai/events/19714-usda-hikes-2026-milk-production-forecast-dairy-product-price-forecasts-mixed.md) | -1.1% | +0.1% |
| MILK | 2025-01-10 | [USDA Lowers 2025 Milk Production Forecast, Hikes Dairy Product, Milk Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/26515-usda-lowers-2025-milk-production-forecast-hikes-dairy-product-milk-price.md) | -0.6% | -1.5% |
| MILK | 2026-03-13 | [USDA Raises 2026 Milk Production Forecast, Most Dairy Product Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/20167-usda-raises-2026-milk-production-forecast-most-dairy-product-price-forecasts.md) | -0.2% | +5.4% |
| MILK | 2026-02-12 | [USDA Hikes 2026 Milk Production Forecast, Also Boosts Dairy Product, Milk Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/20613-usda-hikes-2026-milk-production-forecast-also-boosts-dairy-product-milk-price.md) | -0.3% | +6.9% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/class-iii-futures-surge-weak-milk-production-report

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.