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USDA reported June 2026 US milk output at 18.93 billion pounds, up 2.4% year over year, with the herd growing by 185,000 head. The August Class I base skim milk price fell $2.73/cwt from July, and CME spot cheese closed near $1.535/lb.
Rising milk output and a larger herd point to ample dairy supply, pressuring milk prices and limiting demand for dairy-based feed ingredients.
therio.aiAug 7, 2026After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
