# Tariff Uncertainty Pressures Dairy Markets | Red River Farm Network

> Class III milk has fallen by $2 to $3 from about $19.50-$20 to near $17 in recent months, which an analyst attributes to tariff uncertainty. Tariffs on Mexico and Canada are paused until April 2, and dairy producers are booking canola and soybean meal to lock in feed costs.

- Date: 2025-03-28 · published 2025-03-28T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/25735-tariff-uncertainty-pressures-dairy-markets-red-river-farm-network
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Trade uncertainty is pressuring milk prices, and producers locking in canola and soybean meal supports near-term meal demand.

## Read by commodity

- SBM: bullish ▲
- MILK: bearish ▼
- CANMEAL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2025-04-01 | 1 | -8.2% | -6.1 | Tariff uncertainty was already pressuring Class III futures lower, and an analyst linked the $2-3 decline to trade fears ahead of the April 2 tariff deadline, a plausible sentiment driver for the sharp drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-03-04 | [Dairy Markets on Edge: Tariffs and Trade Uncertainty Shake Prices - Dairy Herd](https://feedsoft.ai/events/25587-dairy-markets-on-edge-tariffs-and-trade-uncertainty-shake-prices-dairy-herd.md) | -8.9% | -7.7% |
| MILK | 2025-03-28 | [Export Challenges and Cheese Surplus Weigh on Dairy Market \| Red River Farm Network](https://feedsoft.ai/events/25737-export-challenges-and-cheese-surplus-weigh-on-dairy-market-red-river-farm.md) | -9.0% | -6.5% |
| MILK | 2018-07-31 | [Tariffs taking toll on dairy markets \| Capital Press](https://feedsoft.ai/events/64030-tariffs-taking-toll-on-dairy-markets-capital-press.md) | +5.0% | +6.4% |
| MILK | 2025-03-14 | [The Farmer's Exchange Online Tariffs Target U.S. Dairy's 3 Largest Export Markets](https://feedsoft.ai/events/25738-the-farmer-s-exchange-online-tariffs-target-u-s-dairy-s-3-largest-export-markets.md) | -0.3% | -7.3% |
| MILK | 2025-03-06 | [Dairy Markets Panic While Smart Farmers Cash In: Why 94% of Exports Remain Unaffected by Tariff Drama. \| The Bullvine](https://feedsoft.ai/events/4708-dairy-markets-panic-while-smart-farmers-cash-in-why-94-of-exports-remain.md) | +1.8% | -6.1% |
| SBM | 2020-08-13 | [Soybean Demand Offers Hope for the Market \| Red River Farm Network](https://feedsoft.ai/events/11345-soybean-demand-offers-hope-for-the-market-red-river-farm-network.md) | +4.8% | +10.2% |
| SBM | 2021-06-25 | [China Buys More U.S. Soybeans \| Red River Farm Network](https://feedsoft.ai/events/46618-china-buys-more-u-s-soybeans-red-river-farm-network.md) | +8.2% | +3.9% |
| SBM | 2020-12-17 | [Soybean Demand Stays Strong \| Red River Farm Network](https://feedsoft.ai/events/49683-soybean-demand-stays-strong-red-river-farm-network.md) | +6.8% | +16.7% |

## Sources

- rrfn.com: https://www.rrfn.com/2025/03/27/tariff-uncertainty-pressures-dairy-markets/

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