Spot block prices continued to decline, nearing one-year lows and dragging Class III futures with them, while widening global discounts could reopen doors for U.S. export opportunities.

Between the insights and the atmosphere, this is more than just another conference — it’s a chance to close out the year with momentum and purpose.

The global dairy industry’s resilience, adaptability and strategic foresight suggest a promising path forward for the U.S. dairy industry.

Class III futures ended lower as cheese prices declined, despite a boost from dry whey. May milk production rose 1.6% year-over-year and the U.S. herd reached its largest size since 2021.

The May Milk Production report reflects significant growth and expansion in the U.S., driven by strategic management of herd sizes and processing capabilities.

On the surface, strong livestock prices and government payments are painting a rosy picture for the farm sector. A closer look at input costs, commodity prices and interest rates says otherwise.