
UK dairy processors handled 1,158.8 million litres of milk in September 2026, down 1.2% from August, according to Defra figures. Cheese production fell 4.7% to 38,800 tonnes and butter output declined 1.3%, while liquid milk production rose 0.3%.
Lower milk intake and cheese and butter production could tighten supplies of those dairy products, though the figures show monthly production rather than sales. The story does not establish a clear feed-commodity price effect.
After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.