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Dairy - Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Dairy: Milk production is forecast to increase in 2025 and 2026, driven by larger herds and improved yields. The all-milk price remains unchanged at $22.00 per hundredweight (cwt) for 2025. For 2026, the forecast rises to $21.90 per cwt, supported by stronger demand for butter and nonfat dry milk (NDM). Export projections have been revised upward for both years. Domestic use forecasts show mixed changes across milk-fat and skim-solids bases.