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The European Commission expects EU milk production to rise 1.8% in 2026, after milk deliveries were 3.0% higher year over year from January to August. Despite summer heat and drought, production dipped only briefly as farmers adapted; the additional milk supply went mainly into butter and skimmed milk powder, while butter and cheese exports grew.
Higher milk output and product exports indicate ample dairy supply, which could put downward pressure on milk prices. Heat-related feed and water costs may squeeze producer margins but have not caused a substantial production decline.
topagrar.comAndreas BeckhoveNov 9, 2026After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
