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Dairy - Market Outlook

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

Report Summary

Dairy: Milk production for 2026 is forecast at 236.6 billion pounds, unchanged from the previous forecast as higher expected dairy cow inventories offset lower expected milk per cow yields. The milk production forecast for 2027 is lowered to 238.0 (-0.1) billion pounds because of lower expected growth in milk per cow. All-milk prices have been revised downward by 15 cents to $19.85 per hundredweight (cwt) for 2026 and by 5 cents to $19.80 per cwt for 2027.