The Bullvine summarizes USDA's 2025 dairy outlook, projecting milk output at 226.9 billion pounds after downward revisions. It cites an all-milk price revised upward to $22.75 per cwt on cheese demand and butter exports, while weaker nonfat dry milk and whey markets remain a drag.
The mixed outlook shows tighter milk supply supporting prices while weak whey and NDM markets limit upside, leaving dairy feed demand modestly firmer on balance.
After 237 past bullish report events, Milk (Class III) 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.