AHDB retail data for the 12 weeks to 3 October 2026 show UK cow dairy volumes up 0.6% year-on-year, led by cheese, yoghurt and cream, while liquid milk volumes fell 0.4%. Average prices per kilo rose 0.8% and prices per litre of milk rose 1.6%.
Retail demand shifts toward cheese and yoghurt rather than liquid milk have limited direct effect on feed or raw milk prices, since most of the change is in consumer mix rather than total supply or demand.
After 136 past neutral report events, MILK moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.