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U.S. butter inventories fell 5% from August to 295.7 million pounds in September, but were 16.5% higher than a year earlier. Total cheese stocks declined 0.9% month over month while remaining 2.4% above year-earlier levels; analysts described the report as neutral, noting tight supplies of deliverable young Cheddar.
Higher year-over-year butter and cheese inventories indicate ample overall dairy stocks, limiting broad price support, although tight nearby Cheddar supplies may continue to support spot cheese values. The report also showed fluid milk sales were unchanged from a year earlier in August.
thelandonline.comLee MielkeNov 6, 2026After 136 past neutral report events, Milk (Class III) 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.
