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US milk output in August totaled 20 billion pounds, up 2% from a year earlier, with the dairy herd at 9.71 million cows. Nonfat dry milk and whey prices surged on limited availability while cheese and butter weakened for a fourth straight week.
Tight protein supplies lift skim and whey ingredient prices, while ample milkfat and cheese supplies keep dairy-based values under pressure.
czapp.comSoslandSep 30, 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.
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.
Cheese weakening for a fourth straight week amid 2% higher output, with a larger herd, pressures Class III, which is driven by cheese and whey, though strong whey and NDM partly offset.
August output rose 2% year on year with a larger herd, and cheese and butter weakened for a fourth straight week, which directly pressured Class III (cheese-driven) values.
Output up 2% year over year and a larger herd, with cheese and butter weak for a fourth straight week, point to supply-driven pressure on Class III.
