Will Milk Prices Rebound in 2026 as Dairy Supply Tightens?

Milk futures prices have struggled for the past year, as increased production has kept steady pressure on product values. Herd expansion, efficiency, increased revenue from breeding for beef calves, and technical selling have all played a part in weaker prices.

World global dairy trade prices have slid as well. The dairy processing industry is expanding, with some estimates as high as $10 billion dedicated toward either revamping or building new processing plants. If demand increases, can the dairy herd respond in a timely fashion to meet demand? Or will a limited supply of dairy heifers and cows help push milk prices higher?

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By Bryan Doherty

November 4, 2025