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USDA raised its 2026 and 2027 US milk-production forecasts, citing higher cow inventories and output per cow, supported by milk prices and calf-sale income. It also raised forecasts for nonfat dry milk, whey and Class III and Class IV prices, while lowering butter-price forecasts; the 2027 milk-production estimate rose to 240.7 billion pounds.
Higher projected milk output points to expanding dairy supply, while the stronger forecasts for nonfat dry milk and whey reflect demand for high-protein products. The mixed product outlook could produce different price effects across dairy ingredients.
agproud.comAudrey SchmitzNov 10, 2026After 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.
Not enough comparable past events yet for a historical read.
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.
