# USDA reports - Page 1 | Ag Proud

> October Class IV milk prices strengthened while Class III prices fell further, widening the Class III-IV gap to $5.38 per cwt. Class II prices rebounded for the first time in three months. In September, the Dairy Margin Coverage margin reached $8.35 per cwt on the strongest feed costs of 2026 so far, and US milk production rose 2.6% year over year.

- Date: 2026-11-05 · published 2026-11-05T12:07:06.239Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/81600-usda-reports-page-1-ag-proud
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weaker Class III prices reflect cheese and whey demand softness and rising milk supply, which can weigh on dairy-sector feed purchasing. Higher feed costs are squeezing producer margins even as USDA data points to larger corn yields.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-11-14 | [USDA resumes monthly WASDE report with November estimates \| Ag Proud](https://feedsoft.ai/events/21956-usda-resumes-monthly-wasde-report-with-november-estimates-ag-proud.md) | +0.1% | -7.6% |
| MILK | 2023-02-08 | [USDA reduces 2023 milk production, price projections  \| Ag Proud](https://feedsoft.ai/events/37464-usda-reduces-2023-milk-production-price-projections-ag-proud.md) | +0.9% | -0.5% |
| MILK | 2026-06-11 | [USDA feed supply, price forecasts remain stagnant \| Ag Proud](https://feedsoft.ai/events/18812-usda-feed-supply-price-forecasts-remain-stagnant-ag-proud.md) | -0.1% | -2.1% |
| MILK | 2026-07-01 | [Milk class prices shrink in June report \| Ag Proud](https://feedsoft.ai/events/8574-milk-class-prices-shrink-in-june-report-ag-proud.md) | -2.7% | -1.4% |
| MILK | 2024-01-15 | [USDA milk production, price outlooks remain stagnant \| Ag Proud](https://feedsoft.ai/events/32119-usda-milk-production-price-outlooks-remain-stagnant-ag-proud.md) | +0.4% | +7.0% |

## Sources

- agproud.com: https://www.agproud.com/keywords/2177-usda-reports

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