All dairy pricing trends are based on USDA and CME data as of July 8, 2026.
Butter
The butter market rose over the past week, as heavy order interest resumed, which should limit further widespread weakness, but rallies will likely be difficult to sustain, due to churns running near capacity in the short term and plenty of cream availability, according to analysts. Updated production reports showed that May butter output rose 3.5% year-over-year. Cold storage levels for May remain 8% lower than last year, and saw a smaller-than-expected build from April.
Cheese
The CME block cheese market rose this past week, as spot buyers stepped back into the market, due to prices holding at historically low levels in recent weeks, according to analysts, who note that seasonal tendencies for prices to rally into Q3 remains a supportive factor, as milk output slows into the summer months, due to warmer temperatures and reduced cow comfort.
Shell Eggs
Urner Barry reported that shell eggs were up over the past week, except medium size in non-West Coast markets, which were down slightly. Domestic demand is in line with seasonal expectations, and export movement is active, all while accelerated flock rotations continue to reduce the availability of larger sizes, according to analysts. Highly Pathogenic Avian Influenza (HPAI) in commercial flocks remains muted, with 1 commercial flock and 1.22M birds impacted over the last 30 days.
Milk & Cream
Analysts expect large milk and cream supplies to continue, with the USDA confirming that fluid milk output jumped 2.3% year-over-year in May, and that U.S. herds remain in expansion mode. When combined with the strong butterfat content in milk, butterfat output was even stronger in May, and is keeping plenty of cream available for churns. The abundance of butterfat this season has continued to remove supply concerns for the upcoming fall baking season, according to analysts.