As 2025 progresses, dairy markets remain soft with somewhat mixed – though more bearish than bullish – signals. That said, prices and IOFC have, thus far, held up better than many expected. The scale and duration of current market pressures, however, remains uncertain.

The May Feed Outlook report shows record-high 2025-26 U.S. corn supplies support elevated corn exports. U.S. old and new corn crop export forecasts are both raised this month on increased price competitiveness and the slower-than-expected pace of shipments from Argentina and Brazil.

Here is the news affecting a dairy farmer's bottom line this third week of May 2025.

The May World Agricultural Supply and Demand Estimates report (WASDE) showed the 2025-26 U.S. corn outlook is for record supplies and total use, and higher ending stocks. The corn crop is projected at 15.8 billion bushels, up 6% from a year ago on increases to both area and yield.

First-quarter dairy product exports ended on a positive note, with volume growing 3% in March. As the first three months of 2025 trailed just 0.5% behind 2024 volume, the value over the same period grew 14%, marking a first-quarter record at $2.3 billion. Here’s Progressive Dairy’s 30,000-foot look at dairy-related export categories.

In the news affecting dairy producers' bottom lines in early May 2025: U.S., U.K. reach trade deal that increases access for American farmers, producer sentiment improves on long-term optimism, and the GDT index continues to climb.

Making headlines as the calendar moved from April to May 2025: The U.S. and Indonesia sign landmark dairy agreement, USTR calls out misuse of common food names, May FSA interest rates slightly lower and news from two dairy cooperatives.

The April Feed Outlook report shows the U.S. corn exports boost 2024-25 global coarse grains trade prospects. U.S. 2024-25 corn ending stocks are expected to be 75 million bushels lower this month at 1.465 billion bushels. The lower ending stocks follow an increase in exports partially offset by a decrease in feed and residual use, based on second-quarter disappearance.

Here is news affecting dairy producers' bottom lines in the middle of April 2025.