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A Terrain senior dairy analyst says strong demand for protein products such as cheese and butter is supporting producer expansion, while processing investment has helped absorb added output. USDA's November report projects 2026 US milk production at 237.7 billion pounds, up 2.1% from last year and a 30-year high.
Exports remain critical, and global prices are falling, which could pressure cheese and butter prices.
Record milk output lifts supply of dairy proteins and skim solids, a bearish factor for dairy feed ingredients like nonfat dry milk unless export demand keeps pace with the expansion.
brownfieldagnews.comErin AndersonNov 13, 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.
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.
