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HighGround Dairy's July 2025 margin monitor shows Q3 2025 estimated dairy margins down $0.85/cwt from the prior month, driven by lower nearby Class III futures. Softer cheese prices and rising milk and cheese output pressured milk values.
Corn and soybean meal prices also moved lower on favorable weather, but not enough to offset the milk price decline.
Lower Class III futures reduce expected farm milk revenue, which can weigh on dairy herd feed purchasing. Softer corn and soymeal prices partly offset that pressure for feed buyers.
highgrounddairy.comMarket Intel TeamJul 2, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Margin monitor attributes lower nearby Class III futures to softer cheese prices and rising milk and cheese output, confirming bearish supply pressure on milk values.
