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USDA data showed the US dairy cow herd rose 15,000 head in October to 0.2% above September and 1.7% above a year earlier. October milk production was up 2.6% from a year earlier, and alfalfa hay averaged $205 per ton in summer 2026 versus $173 a year earlier.
A growing dairy herd and higher milk output add supply pressure on milk and dairy products, while higher alfalfa costs raise feed expenses for dairy producers and can support demand for alternative forage and feed ingredients.
meatingplace.comLen SteinerNov 12, 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.
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.
