
Milk production was strong in California and the Southwest, while Pacific Northwest and Mountain States output was steady; some California cooperatives reportedly could not accept all milk offered. Arizona production fell 4.9% year over year in September, while Idaho production rose 3.2%; additional HPAI-positive tests were reported in Washington dairy cows, with no reported effect on milk availability.
Strong output and limited handler capacity can weigh on regional milk prices, while stronger-than-normal spot demand offers some support. The reported HPAI cases have not reduced supply, so their current price impact appears limited.
Not enough comparable past events yet for a historical read.
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.