All dairy pricing trends are based on USDA and CME data as of July 15, 2026.
Butter
The butter market saw prices inch higher last Monday before trading sideways for a few days and ultimately finishing lower for the week. This market continues to be rangebound, with follow-through rallies struggling in the face of impressive butter output, according to analysts. The USDA reported that May butter production was 3.5% higher year-over-year and continues to run at record levels. Despite concerns about summer heat reducing overall milk supplies, large-scale rallies will likely be difficult to sustain, due to churns running near capacity and plenty of cream still available, according to analysts.
Cheese
The CME block cheese market rose this past week, as spot availability of milk is becoming more limited, due to increased cow stress associated with high temperatures across the country, according to analysts.
Shell Eggs
Urner Barry reported that shell eggs were up over the past week, except for medium size in non-West Coast markets, which were down slightly. Domestic demand is good, and ongoing flock rotations continue to reduce the availability of larger sizes, according to analysts. Highly Pathogenic Avian Influenza (HPAI) in commercial flocks remains muted, with two commercial flocks and 1.49M 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 the milk, butterfat output was even more impressive 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; however, demand is still robust on any price declines, according to analysts.