# Class III Milk Futures Drift Lower as China Tariff News Shakes Markets

> Class III milk futures settled lower on Wednesday as China announced 34% reciprocal tariffs on US goods. Whey futures led the Class III decline, while soybeans, cattle, energy and equities also fell sharply. Spot cheese and butter prices were mixed in the same session.

- Date: 2025-04-04 · published 2025-04-04T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/5644-class-iii-milk-futures-drift-lower-as-china-tariff-news-shakes-markets
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Retaliatory tariffs threaten US dairy and soybean export demand, pressuring prices for milk components and soy products. Feed buyers may see softer soybean meal costs but more uncertainty in export-linked demand.

## Read by commodity

- SOY: bearish ▼
- MILK: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2025-04-02 | 1 | -8.2% | -6.1 | China's 34% retaliatory tariff on US goods hit export-demand expectations, with whey leading the Class III futures decline, though the article's date (Apr 4) is after the move and it describes a 'drift lower' rather than a crash. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-03-05 | [What’s in the News: Dairy Markets Weaken Amid Tariffs, Falling Prices, and Lab-Grown Milk - Dairy Herd](https://feedsoft.ai/events/4703-what-s-in-the-news-dairy-markets-weaken-amid-tariffs-falling-prices-and-lab.md) | -8.6% | -7.8% |
| MILK | 2025-03-28 | [Tariff Uncertainty Pressures Dairy Markets \| Red River Farm Network](https://feedsoft.ai/events/25735-tariff-uncertainty-pressures-dairy-markets-red-river-farm-network.md) | -9.0% | -6.5% |
| MILK | 2018-07-06 | [New Chinese Tariffs Mean Lower Prices For Wisconsin Farmers - WPR](https://feedsoft.ai/events/4970-new-chinese-tariffs-mean-lower-prices-for-wisconsin-farmers-wpr.md) | -0.4% | +3.1% |
| MILK | 2025-03-04 | [Dairy Markets on Edge: Tariffs and Trade Uncertainty Shake Prices - Dairy Herd](https://feedsoft.ai/events/25587-dairy-markets-on-edge-tariffs-and-trade-uncertainty-shake-prices-dairy-herd.md) | -8.9% | -7.7% |
| MILK | 2025-05-01 | [Whey Takes a Hit as Tariff Tensions with China Escalate](https://feedsoft.ai/events/25286-whey-takes-a-hit-as-tariff-tensions-with-china-escalate.md) | +2.0% | +1.3% |
| SOY | 2024-03-25 | [Limited impact on US agriculture from China tariffs \| Latest Market News](https://feedsoft.ai/events/14765-limited-impact-on-us-agriculture-from-china-tariffs-latest-market-news.md) | -0.6% | -2.6% |
| SOY | 2026-01-01 | [Soybean futures drop 85 cents as China buying disappoints market](https://feedsoft.ai/events/21530-soybean-futures-drop-85-cents-as-china-buying-disappoints-market.md) | +1.6% | +3.3% |
| SOY | 2019-05-13 | [Forex Market: Yuan weakest since December as China adds tariffs](https://feedsoft.ai/events/8441-forex-market-yuan-weakest-since-december-as-china-adds-tariffs.md) | +3.1% | +7.7% |

## Sources

- dairyherd.com: https://www.dairyherd.com/markets/milk-prices/class-iii-milk-futures-drift-lower-china-tariff-news-shakes-markets

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