All dairy pricing trends are based on USDA and CME data as of March 25, 2026.
Butter
The butter market was relatively steady over the past week. Although recent export data showed that the U.S. exported the most butter in the month of January since 1994, forward expectations don’t appear as optimistic, as export demand will likely face further headwinds given the recent run up in U.S. values, elevated freight costs, the stronger U.S. dollar and growing inflation risk, according to analysts. The USDA reported that butter output was 6% higher year over year in January and up 11.5% from December.
Cheese
The CME block market continued to trade within a fairly narrow range this week. The U.S. has seen several months of record cheese sales thanks to a compelling discount compared to other major world exporters, which has prevented domestic stockpiling as production rates continue to climb, according to analysts.
Shell Eggs
Urner Barry reported that all shell egg markets pivoted lower over the past week, as Easter and Passover orders have largely run their course, and foodservice demand remains limited, according to analysts. The USDA is reporting 43 confirmed cases of Highly Pathogenic Avian Influenza (HPAI) in commercial flocks over the last 30 days, impacting nearly 10.1M birds.
Milk & Cream
Domestic milk production continues to be strong, and milk component levels have increased. Butterfat content remains at record levels; January milk output jumped 3.2% year over year; and domestic dairy herds increased 14K head in January to 32-year highs, according to the USDA. Historically, cheap feed costs and increased beef-on-dairy breeding revenue have helped dairy farmer profitability, keeping slaughter rates below average, according to analysts.