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Milk production in Argentina and Uruguay remained above year-earlier levels in September, but growth slowed to below 2% in both countries. Uruguay recorded stronger cumulative growth, particularly in milk solids, while farmgate prices moved differently between the countries.
NOAA put the probability of an exceptionally strong El Niño in October–December at 83%, adding uncertainty to production.
Slowing milk output growth could limit dairy supply expansion, while El Niño raises further production uncertainty. This may support milk prices if supply tightens, though the article provides no specific price outlook.
dcamarketintelligence.comManuelle IamakamiNov 11, 2026After 32 past bullish weather events, Milk (Class III) moved a median +0.1% over 5 sessions (50% higher; middle half -0.7% to +3.4%), and +3.2% 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.
