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Class III milk and cheese prices have been moving sharply day to day. The February Class III price fell from above $21 per cwt earlier in January to around $19 that week, as spot cheese reached its lowest level since mid-December.
Trump's planned early-February tariff on Mexico is also weighing on sentiment because Mexico is a major cheese export market.
Expanding cheese output from new plants combined with the risk of Mexican retaliation points to softer dairy product prices, which lowers milk returns and feed demand for dairy operations.
midwestfarmreport.comPam JahnkeJan 26, 2025After 49 past bearish trade events, Milk (Class III) moved a median -0.3% over 5 sessions (39% higher; middle half -4.7% to +1.5%), and -0.4% 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.
