See the latest Livestock, Dairy, and Poultry Outlook report.
Report Summary
Dairy: In 2026, the dairy cow herd is projected to average 9.570 million head, an increase of 30,000 head, and milk production is forecast upward to 234.7 billion pounds, 0.2 billion pounds higher than last month’s forecast. The 2026 domestic wholesale price forecasts for Cheddar cheese, butter, and NDM, are projected higher at $1.615 (+1.0 cent), $1.870 (+19.0 cents), and $1.390 (+7.5 cents), while dry whey is lowered to $0.660 (-3.0 cents) per pound, respectively. The 2026 Class III milk price forecast remains $16.65 per cwt, unchanged from the previous forecast. The Class IV price is forecast at $17.15 per cwt, $1.45 higher than the previous projection. The all-milk price for 2026 is now forecast at $19.70 per cwt, an increase of $0.75 from last month’s forecast.