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USDA trimmed its 2026 milk production forecast by about 100 million pounds and lowered 2026 Class III and IV prices, with the all-milk price cut by 50 cents to $18.75/cwt. Butter supplies are high and prices are low, which USDA expects to encourage exports.
Dry whey and nonfat dry milk showed relative strength.
Lower projected 2026 milk prices and softer butter and cheese values weigh on dairy returns, while the smaller production forecast is a modest supportive factor for milk prices.
pnwag.netGlenn Vaagen2026年1月2日在过去 273 次看跌的报告事件之后，牛奶(III类) 在 5 个交易日内中位数变动 -0.2%（39% 上涨；中间一半区间为 -1.3% 至 +0.4%），20 个交易日内为 -1.4%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
