All dairy pricing trends are based on USDA and CME data as of February 11, 2026.
Butter
The butter market continued to be strong this past week, with sharply higher prices late in the week allowing butter to close at its highest levels since October of last year, due to renewed order interest from domestic and international buyers, according to analysts. They note that while the market is still dealing with the burdensome amount of butterfat coming to market, overall demand has held up better than they had expected, and has kept cold storage levels under pressure. This was confirmed by the USDA’s updated Cold Storage Report, which showed a larger-than-normal drawdown in December, and overall stocks 7% lower than last year. Nearby reports suggest that churns are running strong to take advantage of softer cream prices, which is in line with the seasonal trend of production increasing from December through May. According to Cheese Reporter, U.S. butter exports in November totaled 25.1 million pounds, up 245% from November 2024. This was the highest monthly volume since August 2008, when exports totaled 26.2 million pounds.
Cheese
The CME block market remained steady this week. Prices rose to their highest level since November last Friday, but the beginning of this week saw prices falling back again. Exports remain crucial for clearing additional supplies, due to record cheese production in the U.S. and stagnant domestic demand, according to analysts.
Shell Eggs
Urner Barry reported that all shell egg markets were down this week. Demand is only fair, and supply is becoming increasingly available, according to analysts. Incidents of Highly Pathogenic Avian Influenza (HPAI) do continue to spread, however. The USDA reports 19 confirmed cases affecting commercial flocks over the last 30 days, impacting over 4.6M birds.
Milk & Cream
Domestic milk production remains strong, while record butterfat levels are helping to stretch that milk even further, according to analysts. They report that historically cheap feed costs and high demand for dairy calves to support the beef industry have helped dairy farmer profitability, thereby supporting herd expansion. The USDA reported that December fluid milk output was 4.4% higher year-over-year, and was the largest December output on record.
Commodity Trends at Your Fingertips: Dive into the Farmer's Report
The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.