The Latest: June - 2026
Milk Continues to Gush Across the U.S.
Milk continues to gush across the U.S., though the pace of growth has slowed somewhat. USDA’s most recent Milk Production report, released earlier this week, showed that volumes across the U.S. ticked up by 2.3% year over year in May. Once adjusted for component growth the increase is likely to be even larger.
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In November, as roughly one in four California dairies struggled with avian influenza, the state’s milk production plummeted 9.2% from a year ago, the largest-ever decline in a century of USDA records.
View reportClass III futures bounced back bigtime this week, led by another strong performance in the whey market. CME spot whey powder rallied 8.25ȼ, notching a 12% increase in just five sessions. Whey protein concentrate prices continue to climb, evidence of nearly insatiable domestic demand for protein.
View reportThe dairy markets had a lot of data to digest along with their turkey. While Americans topped their mashed potatoes and slathered their rolls with butter, dairy analysts chewed on data showing October butter output and inventories well above year-ago levels.
View reportNever doubt the power of the profit motive in a free market. In the face of a devastating virus and a systemic heifer shortage, American dairy producers nevertheless found a way to add cows and boost milk production.
View reportSoaring temperatures, summer shortages, and sky-high prices are out of season as the cheese and butter markets hunker down for the winter. So far, pre-holiday demand has not impressed. Demand is simply not keeping pace with current production.
View reportCME spot Cheddar blocks plummeted 11.75ȼ and closed at $1.72 per pound, their lowest price since April. Barrels lost a dime and finished at $1.7675, also a six-month low.
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