The U.S. Department of Agriculture has released their price forecast for Milk and Milk Products for May 2026. World Agricultural Outlook Board Chair Mark Jekanowski explains, “With those very strong nonfat dry milk prices, that contributes directly to strong class four prices. So for 2026, we raised our class four price by $1.35 per hundredweight. It’s now at $19.95 per hundredweight. For 2027, we expect to give up most of those gains we made this month. We anticipate year-over-year class four prices to be down about $1.35 per hundredweight, down to $18.60. We raised our class three price forecast for 2026, driven by strength and whey markets. So that’s $17 per hundredweight. Next year, we see some strength into raising our class three price forecast by about $0.55 per hundredweight to $17.55 per hundredweight. And the all-milk price for 2026, we currently have forecast at $21.25 per hundredweight. And we see that weakening just a bit next year. 2027, our forecast is at $20.95 per hundredweight.”
“For 2027, our cheese price forecast is up about $0.07 per pound year-over-year. Butter price forecast for next year is up $0.10 per pound year-over-year. And then on the other hand, the dry products, nonfat dry and dry whey, we anticipate those markets to come a little bit more into balance. Still high, but off of record high prices,” said Jekanowski.
Audio Reporting by Dale Sandlin for Southeast AgNet.