USDA’s July milk production and price forecast was fairly straightforward; more production within most categories and lower prices from the previous month. "We're looking at year-over-year growth in milk production of about 1.5 billion pounds. Higher milk production, that is putting some pressure on product prices. Photo: USDA Photo: USDAJekanowski said when it comes to prices, nearly all product prices were lowered from recent highs, but remain on par with historic levels. "In our nonfat dry milk price, we lowered by nine cents per pound in 2026 and 11 cents per pound in 2027.”