The USDA announced the April Federal order Class III milk price Wednesday at $16.82 per hundredweight, up 66 cents from March, but is 66 cents below April 2025. It is the highest Class III price since November 2025. The four-month average stands at $15.63, down from $19.16 a year ago, and compares to $15.77 in 2024.

Wednesday’s Class III futures settlements portend a May price at $17.31; June, $17.69; July, $18.35; and August, $18.87; with a peak in September at $19.02.

The April Class IV price is $20.22, up $1.28 from March, $2.30 above a year ago, and the highest Class IV price since January 2025. Its four month average is $17.25, down from $19.19 a year ago, and compares to $19.86 in 2024.

U.S. butter stocks shot higher in March, as they did in February, but were still well below those a year ago. The USDA’s latest Cold Storage report pegged the March inventory at 288.8 million pounds, up a whopping 32.6 million pounds or 12.7 percent from February, but was still 34.4 million pounds or 10.6 percent below March 2025. February’s total was revised up 2.5 million pounds from last month’s report.

American type cheese stocks grew to 801.6 million pounds, up 10.7 million or 1.4 percent from the February level, which was revised up 6.0 million pounds, but they were down 21 million or 2.5 percent from a year ago.

The “other” cheese holdings totaled just under 575 million pounds, up 2.7 million or 0.5 percent from February but were down 3.4 million pounds or 0.6 percent from a year ago. The February total was revised down 5.7 million pounds.

The March total cheese inventory stood at 1.4 billion pounds, up 13.5 million or 1.0 percent from February, but the lowest level for the month since 2020, according to HighGround Dairy, and 23.3 million pounds or 1.6 percent below a year ago.

Checking the rear view mirror, the USDA’s 2025 Dairy Products Summary reported cheese production totaled 14.8 billion pounds in 2025, up 4.0 percent from 2024. Wisconsin remained the No. 1 producer with 24.6 percent of the total.

Italian cheese totaled 6.3 billion pounds, up 5.1 percent from 2024, and accounted for 42.8 percent of the cheese produced in 2025. Mozzarella accounted for 79.1 percent of the Italian total, followed by Parmesan with 8.3 percent and Provolone at 6.2 percent. Wisconsin, again, was the leading producer of Italian cheese, with a 28.4 percent share.

American type cheese totaled 5.8 billion pounds, 4.6 percent above the 2024 total, and accounted for 39.4 percent of all cheese produced in 2025. Wisconsin led the nation at 18.2 percent of that production.

Butter churns produced 2.39 billion pounds, up 6.7 percent from 2024. California was the No.1 butter producer with 28.4 percent of the total.

Nonfat dry milk output amounted to 1.66 billion pounds, up slightly from 2024, and skim milk powder totaled 504 million, down 15.9 percent. Dry whey output totaled 845 million pounds, down 1.0 percent from 2024.

CME block Cheddar was trading Thursday at $1.64 per pound, a quarter-cent above its April 1 print, and 12 cents below a year ago. The barrels were at $1.6150, 2.25 cents above where they were on April 1, and 14 cents below a year ago. The blocks closed Friday at $1.6450 and the barrels at $1.6150.

Sales for the week so far totaled 7 loads of block and 90 for the month of April, up from 75 in March. There were no barrel sales on the week and only 1 for the month of April, down from 3 in March.

Milk production is steady in the Central region and above a year ago, reports Dairy Market News. Spot trades were light this week. Some cheesemakers received fewer offers while others said volumes were available but they were using milk from within their network and not purchasing additional loads. Mid-week spot prices ranged $3- under to flat. Cheesemakers were running busy schedules. Demand for cheese barrels is strong and block demand was steady to stronger. Retail purchasers are steadily securing cheese, but contacts say food service demand is lackluster. Export demand is also strong.

Milk and cream output in the West are accommodating cheesemakers, however, spot milk availability varied throughout the region. Demand from cheesemakers is moderate. Cheese production was steady and continued active seven days a week. Cream cheese production also remains very active. Retail cheese demand is stable. Manufacturers note demand from food producers incorporating cheese as part of their product is a bright spot so far this year. Industry sources describe export demand as strong, according to DMN.

Cash butter had fallen to $1.6250 per pound Thursday, lowest CME price since Feb. 9, 12.75 cents below its April 1 level, and 70.50 cents below a year ago. It finished Friday at $1.7050. Sales totaled 71 loads for the week so far and 341 for the month of April, down from 377 in March.

Cream output is strong in the Central region and Class II and Class III processors were buying significant volumes, says DMN, keeping spot cream volumes balanced to somewhat snug. Spot cream demand was light from butter makers.

Butter makers were running busy schedules. Domestic butter demand was steady week to week, but some reported lighter food service demand than expected this time of year. Export butter demand was unchanged, says DMN.

Looking westward; Class II dairy product manufacturing is strong as milk and cream production provides sufficient volumes for butter makers in the region. Demand for spot loads was moderate from butter makers, with seasonally higher second quarter prices for cream. Butter production varies from steady to strong. Domestic demand is steady. U.S. butter prices continue to be an attraction for international buyers, despite some logistical challenges, according to DMN.

Grade A nonfat dry milk soared to a record high $2.2650 per pound Tuesday, but saw its first retreat 16 sessions Wednesday, inching back 0.75 cents. It closed Thursday at $2.25 per pound, 31.25 above its April 1 post, and $1.0550 above a year ago. It closed Friday at $2.26. There were seven sales on the week, 48 for the month, down from 147 in March.

Dry whey was trading Thursday at 69.75 cents per pound, up from 68.75 cents on April 1, and 17.75 cents above a year ago. Sales totaled three for the week so far and 10 for the month, up from seven in March.

The USDA’s latest Crop Progress report showed 25 percent of U.S. corn was in the ground, as of the week ending April 26, up from 11 percent the previous week, 3 percent ahead of a year ago, and 6 percent ahead of the five year average. Seven percent was emerged, 2 percent ahead of a year ago. Soybean plantings were at 23 percent, up from 12 percent the previous week, 6 percent ahead of a year ago, and 11 percent ahead of the five year average. Eight percent was emerged, 6 percent ahead of a year ago.