Great Britain’s milk deliveries to processors fell 4% year over year to 1.053 billion litres in October 2026, although volumes remained 1% above the five-year average. AHDB forecasts milk-year 2026/27 deliveries will decline by 284 million litres, or 2.2%, as low farmgate prices and higher production costs weigh on farmers; summer drought also reduced forage availability.
Lower output would tighten milk supply and support milk prices, while costlier feed, energy and forage further squeeze producers’ margins.
After 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.