June Dairy Month is upon us. Thankfully, it looks like June will remain Dairy Month for a long time as a continually growing dairy herd and increasing milk per cow kept U.S. milk production above a year ago for the 14th consecutive month.

The USDA’s latest data puts April output at 19.960 billion pounds, up 2.7 percent from April 2025, and followed a 2.7 percent rise in March. The 24-state total came in at 19.176 billion pounds, up 2.8 percent.

March output in the 50 states was revised up 71 million pounds to 20.462 billion, up 2.7 percent from a year ago, instead of the 2.3 percent originally reported. The 24-state total was revised up 71 million pounds, to 19.662 billion, up 2.8 percent, instead of the 2.4 percent originally reported.

April cow numbers totaled 9.645 million head, up 10,000 from the March count, which was revised up 14,000 head, and was up 190,000 or 2.0 percent above a year ago. The 24-state count, at 9.210 million, was up 12,000 from the March total, which was revised up 15,000 head, and was 193,000 or 2.1 percent above a year ago. The U.S. dairy herd is the largest since Mid-1993, says the Daily Dairy Report.

April milk per cow averaged 2,069 pounds in the 50 states, up 14 pounds or 0.7 percent from a year ago. The 24-state average, at 2,082 pounds, was up 13 pounds or 0.6 percent from 2025. The March average was revised up 5 pounds in both.

Wisconsin produced just under 2.8 billion pounds, also up 79 million, up 2.9 percent from a year ago, which followed a 3.2 percent gain in March. Cow numbers were up 31,000 head, with a 10-pound gain per cow.

Idaho was up 45 million pounds or 3.0 percent on 23,000 more cows. Output per cow was off 5 pounds. Indiana was up 5.6 percent, thanks to 10,000 more cows, and a 5-pound gain per cow.

Kansas again recorded the biggest percentage gain, up 23.7 percent from a year ago, on 44,000 more cows and a 20 pound gain per cow. Michigan was up 4.1 percent on 19,000 more cows. Output per cow was down 5 pounds. Minnesota was up 2.3 percent, on 10,000 more cows. Output per cow was unchanged.

New York was up 0.9 percent on 9,000 more cows, though output per cow was down 10 pounds. Ohio was up 1.9 percent on 2,000 more cows and 20 pounds more per cow. Oregon was up 7.4 percent on 8,000 more cows and a 5-pound gain per cow.

Pennsylvania was down 2.0 percent due to 12,000 fewer cows milked, though output per cow was up 10 pounds. South Dakota was up 6.3 percent on 13,000 more cows and a 15-pound gain per cow.

Texas put 1.6 billion pounds in the tank, up 67 million or 4.3 percent from a year ago, thanks to 29,000 more cows and a 5-pound gain per cow.

Vermont was down 0.5 percent, on 1,000 fewer cows, though output per cow was up 10 pounds. Washington State showed the biggest decline again, down 7.0 percent on 17,000 fewer cows, and a 5-pound drop per cow.

StoneX says there is still available capacity at some of the new plants that have been built in the U.S. and there are likely still new farms or existing farm expansions that will be coming online during 2026 to fill those plants.

“Production per cow is slowing down with seasonal declines in fat and protein content and tougher year-on-year comparisons,” says StoneX. “Producers have been adjusting feed rations for some time now to lower input costs against the weaker milkfat prices. Protein was up 3.4 percent, which is being incentivized by strong whey and nonfat dry milk prices. This put component-adjusted milk production up 3.4 percent, which helps explain the downtrend in Class III,” according to StoneX.

The USDA’s weekly slaughter report showed 46,700 dairy cows were sent to slaughter the week ending May 9, up 800 head or 1.7 percent from a year ago. Year to date 1,028,100 had been culled, up 54,500 head or 5.6 percent from a year ago.

Meanwhile, we have plenty of dairy in the cooler. U.S. butter stocks jumped in April, as they did in March, but were still well below a year ago, thanks to good domestic demand and strong exports.

The Agriculture Department’s latest Cold Storage report shows April butter stocks at 308.2 million pounds, up 18.3 million pounds or 6.3 percent from March, but 28.8 million pounds or 8.5 percent below April 2025. The March total was revised up 1.1 million pounds from last month’s report.

American type cheese stocks grew to 817.6 million pounds, up 12.0 million or 1.5 percent from the March level, which was revised up 3.9 million pounds. But they were down 11.9 million pounds or 1.4 percent from a year ago.

The “other” cheese holdings totaled 575.2 million pounds, up 243,000 pounds or 0.04 percent from March, but were down 3.4 million or 0.6 percent from a year ago. The March total was unchanged.

The total cheese inventory hit 1.418 billion pounds, up 12.4 million or 0.9 percent from March, but still 13.4 million pounds or 0.9 percent below a year ago. Revisions added 3.9 million pounds to the March total.

StoneX says “The higher milk production appeared to have helped build inventories.” The May 22 Daily Dairy Report warned “The steep increase in American-style cheese stocks in both March and April suggests that, while exports are helping to clean up supplies of other cheese varieties, international buyers are not interested in U.S. Cheddar. If American-style cheese continues to pile up, some will wind up in Chicago and weigh on the CME spot price.”

Speaking of CME Cheddar, the 40-pound blocks were trading Thursday morning at $1.4875 per pound, down 1.75 cents so far in the holiday-shortened week, lowest since Feb. 17, 2026, and 46 cents below a year ago. The 500-pound barrels were at $1.44, 43 cents below a year ago, after closing Friday at $1.48.

Dairy Market News reports that milk output is strong in the Central region but contacts say busy schedules are keeping spot volumes from becoming excessive. Class III spot milk prices ranged from $5-under to $2-over at mid-week. Cheesemakers were running busy schedules following the long holiday weekend. Some plants purchased milk from processors with downtime this week, near the bottom of the range, while others said lighter spot availability was keeping prices steady. Plenty of cheese is available in the region. Domestic demand was steady to higher as contacts reported increased retail demand but note that food service sales remain light. Export cheese demand is steady.