# Plenty of milk product in storage and butter stocks keep building

> The June Federal order Class III milk price was $14.91 per hundredweight, the lowest since May 2020. USDA cold storage data showed May 31 inventories of 366.7 million pounds, up 14% from a year earlier, with the largest May stock build since 1990. Butter stocks continued to rise.

- Date: 2023-07-12 · published 2023-07-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35208-plenty-of-milk-product-in-storage-and-butter-stocks-keep-building
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Heavy dairy product stocks signal weak demand relative to supply, keeping milk prices under pressure. Lower dairy returns can reduce dairy feed purchasing.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2026-10-25 | [U.S. Milk Production Up 2.7% in September 2026: Butterfat Hits Historic 4.32% as Protein Demand Surges](https://feedsoft.ai/events/17115-u-s-milk-production-up-2-7-in-september-2026-butterfat-hits-historic-4-32-as.md) | -0.4% | — |
| MILK | 2021-06-07 | [Cheese and butter production growing - Brownfield Ag News](https://feedsoft.ai/events/46573-cheese-and-butter-production-growing-brownfield-ag-news.md) | -0.3% | -3.0% |
| MILK | 2025-12-10 | [USDA Lowers 2026 Milk Production, Cheese And Butter Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/21493-usda-lowers-2026-milk-production-cheese-and-butter-price-forecasts-cheese.md) | -0.8% | -6.8% |
| MILK | 2020-08-12 | [Increasing milk production expected to keep dairy prices low - Brownfield Ag News](https://feedsoft.ai/events/51624-increasing-milk-production-expected-to-keep-dairy-prices-low-brownfield-ag-news.md) | +2.3% | -14.3% |
| MILK | 2026-03-28 | [Milk production rising in major export regions - Dairy Star](https://feedsoft.ai/events/6430-milk-production-rising-in-major-export-regions-dairy-star.md) | +8.7% | +4.3% |

## Sources

- farmersadvance.com: https://www.farmersadvance.com/story/life/2023/07/12/plenty-of-milk-product-in-storage-and-butter-stocks-keep-building/70392766007/

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