
Dairy demand is weakening as restaurant sales fell from $97.0 billion in December to $95.5 billion by February 2025 and tariff talk made importers cautious. Class III and Class IV futures declined sharply between early January and early April, while record milk components added to supply.
Softer domestic and export demand combined with rising milk output pressures dairy product prices and the milk price outlook. Lower dairy prices could reduce the cost of dairy-based feed ingredients but signal weaker demand for dairy products.
Not 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.