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US and global dairy markets began 2026 under pressure from strong milk output among major exporters. Milk output from the US, EU, New Zealand, Australia and Argentina rose 4.5 percent in the second half of 2025, the largest annual gain since 2014.
US Class III and IV prices are running well below last year.
Abundant global milk supply keeps downward pressure on dairy product prices, with recovery depending on supply cuts or stronger demand. Protein demand supports some products, but surplus butterfat and weak cheese consumption cap gains.
agproud.comWill LouxMar 6, 2026Not 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.
