◂ Event Timeline

Nov 13, 2026REPORTUS

U.S. Dairy Herd Hits 30-year High At 9.74 Million Cows As GLP-1 Protein Boom And +13.8% Export Surge Absorb Record Milk Output

The USDA raised its 2026 US milk production forecast by 800 million pounds to 237.7 billion pounds and its 2027 forecast by 2.3 billion pounds to 240.7 billion pounds. The dairy herd has reached a 30-year high of 9.74 million cows, with exports up 13.8%.

WHY IT MATTERS

A larger milk pool normally pressures dairy prices, but strong high-protein demand and exports are absorbing surplus solids, which limits downside for milk powder and milk prices.

AFFECTSMilk (Class III)▼Nonfat Dry Milk◆

SOURCE
en.edairynews.comDamián MoraisNov 13, 2026

Price reaction & history

Milk (Class III)▼bearish

After 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.

Nov 26, 2025US Milk Output Surges 4% As Herd Hits 31-Year High - EDairy News English-8.1%
Jun 25, 2021As Higher Milk Production Forecasts Settle In, Can Export Demand Help Save Prices? - Dairy Herd-2.6%
Jul 22, 2025Milk Output Surges Past Expectations as Butter Prices Slide, 2025 Futures Rally on Export Strength - Dairy Herd-0.6%
Oct 25, 2026U.S. Milk Production Up 2.7% in September 2026: Butterfat Hits Historic 4.32% as Protein Demand Surges-0.4%
Jan 26, 2021U.S. dairy herd largest since 1995; December milk output up 3.1% - Progressive Dairy | Ag Proud-0.2%

Nonfat Dry Milk◆neutral

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.

Milk (Class III) MILK · GP ▸

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Nonfat Dry Milk NFDM · GP ▸

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