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The USDA's November Class III milk price was $17.18/cwt, up 27 cents from October and $2.77 lower year on year. The November Class IV price was $13.89, the lowest since February 2021.
Commodity and Ingredient Hedging warned that dairy margins kept eroding as milk prices hit new lows while feed costs held steady or softened.
Milk futures are under heavy pressure from rising production, and USDA has raised its 2026 milk output estimate, which points to weaker milk prices. Lower farm margins may also reduce dairy herd and feed-buying demand.
thefencepost.comLee Mielke2025年12月15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。
