# Milk 2027: stable production and prices under pressure

> RaboResearch expects combined milk output from the seven leading dairy-exporting regions to fall 0.2% in Q4 2026 and stabilize in the first half of 2027. The EU will temporarily reduce deliveries, the US is expected to expand production by nearly 2%, and New Zealand is preparing record output. Milk powder is expected to see better price prospects than butter, which faces continued pressure from abundant fat supply.

- Date: 2026-11-13 · published 2026-11-14T09:13:15.380Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/99290-milk-2027-stable-production-and-prices-under-pressure
- Commodities: [Nonfat Dry Milk](https://feedsoft.ai/c/NFDM.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower EU deliveries partly offset US and New Zealand growth, so global export supply tightens only modestly. Stronger international demand for powders and protein ingredients should support NFDM prices, while excess butterfat keeps butter prices under pressure.

## Read by commodity

- MILK: neutral
- NFDM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-11-14 | [Stable raw milk production in 2021 - Products Eurostat News - Eurostat](https://feedsoft.ai/events/38701-stable-raw-milk-production-in-2021-products-eurostat-news-eurostat.md) | +0.1% | -2.3% |
| MILK | 2024-01-24 | [US Milk Production - December 2023](https://feedsoft.ai/events/32129-us-milk-production-december-2023.md) | +0.1% | +6.5% |
| MILK | 2026-03-17 | [USDA Raises 2026 Milk Price Forecast as Dairy Production Grows](https://feedsoft.ai/events/20166-usda-raises-2026-milk-price-forecast-as-dairy-production-grows.md) | -0.3% | +4.9% |
| MILK | 2020-11-10 | [USDA continues to raise milk production and prices - Brownfield Ag News](https://feedsoft.ai/events/50158-usda-continues-to-raise-milk-production-and-prices-brownfield-ag-news.md) | -1.8% | -33.8% |
| MILK | 2026-08-12 | [USDA nudges 2026 milk production forecast higher \| Ag Proud](https://feedsoft.ai/events/17912-usda-nudges-2026-milk-production-forecast-higher-ag-proud.md) | -0.5% | -2.7% |

## Sources

- agronewscastillayleon.com: https://www.agronewscastillayleon.com/produccion-mundial-leche-2027-precios/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.