Milk, USDA Class III spot, United States averaged $20.71/cwt in July 2026, -3% over twelve months and +36% over ten years. The nominal all-time high was $29.16/cwt in July 2022; in 2024 dollars the real peak was $37.48/cwt in May 2004. Monthly averages, IMF PCPS.
Milk, USDA Class III spot, United States
Derived price statistics per series
Series
Latest
1 month
12 months
5 years
10 years
20 years
All-time high (nominal)
All-time high (real, 2024 US$)
Milk, USDA Class III spot, United States $/cwt, since 1993
20.71 July 2026
-14%
-3%
+14%
+36%
+64%
29.16 July 2022
37.48 May 2004
Percentage changes compare the latest monthly average with the monthly average 1, 12, 60, 120 and 240 months earlier. Real prices deflate by the US consumer price index (BLS via FRED) to 2024 dollars.
Prices are monthly benchmark averages that may lag the market; informational only, not investment, legal or trade advice. For what these benchmarks mean and how they are set, see how milk is priced.
Monthly milk prices by decade
Choose a decade. Values are monthly averages in the unit shown; blank cells mean no quote was published.
Milk, USDA Class III spot, United States ($/cwt)
Milk, USDA Class III spot, United States monthly prices, 1990s, $/cwt
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Average
1993
11.66
11.43
11.61
11.54
11.73
11.57
11.59
1994
11.5
11.66
11.84
11.69
11.41
11.19
11.4
11.27
11.45
11.34
11.35
11.31
11.45
1995
11.24
11.36
11.21
11.27
11.16
11.22
11.71
11.51
11.7
11.81
11.9
12.39
11.54
1996
12.22
12.36
12.71
13.48
14.28
15.52
17.64
18.08
18.78
16.01
12.9
12.35
14.69
1997
12.94
13.74
13.88
12.82
11.93
11.97
11.59
12.17
12.59
12.81
12.64
12.93
12.67
1998
13.19
13.26
12.81
12.26
11.21
12.75
14.35
15.28
15.19
15.91
16.6
17.16
14.16
1999
15.82
12.19
11.18
11.59
11.33
11.59
13.41
15.9
15.87
12.56
10.59
9.81
12.66
Milk, USDA Class III spot, United States monthly prices, 2000s, $/cwt
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Average
2000
10
9.7
9.59
9.5
9.43
9.54
10.42
10.18
10.71
9.99
8.7
9.28
9.75
2001
9.69
10.22
11.33
11.96
13.53
14.93
15.26
15.48
15.78
14.37
11.42
11.72
12.97
2002
11.83
11.69
10.68
10.84
10.84
10.31
9.35
9.54
9.85
10.6
9.81
9.81
10.43
2003
10.71
10.66
10.03
10.31
10.68
10.73
12.59
15
15.58
15.74
14.71
12.57
12.44
2004
12.75
12.99
15.3
20.99
22.48
19.8
16.42
15.49
16.01
15.55
16.19
18
16.83
2005
15.41
16.15
15.56
16
15.07
15.33
15.87
15.09
15.7
15.81
14.88
14.75
15.47
2006
14.72
13.58
12.35
12.03
11.92
12.54
12.64
12.71
12.63
12.82
13.76
13.62
12.94
2007
14.06
14.64
15.2
15.98
18.61
20.12
21.21
19.99
20.22
18.76
19.16
20.39
18.19
2008
19.53
17.2
18.02
16.9
18.13
20.17
18.35
17.39
16.42
16.8
15.46
15.22
17.47
2009
10.92
9.34
10.36
10.76
9.82
9.9
10.01
11.14
11.95
12.79
14.03
14.7
11.31
Milk, USDA Class III spot, United States monthly prices, 2010s, $/cwt
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Average
2010
14.39
14.27
13.07
12.88
13.31
13.54
13.73
15.07
16.17
16.8
15.71
13.9
14.4
2011
13.43
16.38
19.21
16.71
16.48
18.89
21.07
21.51
19.02
17.91
18.91
18.58
18.17
2012
17.12
16.23
15.54
15.72
15.24
15.61
16.53
17.79
18.89
20.87
20.85
18.78
17.43
2013
18.04
17.2
16.97
17.52
18.55
18.08
17.42
17.98
18.1
18.24
18.81
19.02
18
2014
20.65
22.93
23.12
24.03
22.66
21.44
21.44
22.02
24.2
24.01
22.01
18.05
22.21
2015
15.99
15.72
15.5
15.76
16.26
16.68
16.28
16.4
15.94
15.61
15.4
14.5
15.84
2016
13.69
13.82
13.79
13.7
12.87
13.39
15.24
16.81
16.51
14.93
16.65
17.24
14.89
2017
16.83
16.86
15.81
15.26
15.54
16.28
15.58
16.39
16.29
16.67
16.6
15.47
16.13
2018
14.04
13.54
14.21
14.44
15.2
15.33
14.35
15.16
16.21
15.64
14.54
13.86
14.71
2019
14.03
14.11
15.02
15.84
16.34
16.29
17.28
17.56
18.14
18.72
20.25
19.48
16.92
Milk, USDA Class III spot, United States monthly prices, 2020s, $/cwt
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Average
2020
17.12
17
16.36
13.42
11.96
19.86
24.05
20.12
16.78
21.15
23.11
15.99
18.08
2021
16.23
15.66
16.22
16.18
16.18
16.18
18.1
17.83
18.59
19.21
20.96
22.29
17.8
2022
25.39
26.84
28.06
28.54
28.16
29.15
29.16
28.02
27.73
28.08
26.15
24.95
27.52
2023
22.78
21.34
20.82
20.37
20.42
20.48
20.56
21.3
21.19
24.15
23.22
21.67
21.52
2024
21.82
22.59
22.67
22.76
23.09
23.87
24.21
24.47
25.15
23.86
23.82
23.5
23.48
2025
23.65
22.49
21.09
20.31
20.42
20.82
21.45
21.06
19.25
16.2
15.62
15.48
19.82
2026
15.26
17.55
21.48
23.14
25.22
23.97
20.71
21.05
Method
Nominal prices are the source's monthly averages in US dollars, stored in the source's unit and never mixed on one chart. Real prices divide each month by the US consumer price index for all urban consumers (BLS series CPIAUCSL, via FRED) and multiply by the 2024 average, so they read as "2024 dollars". Changes are ratios of monthly averages. The all-time high is the highest monthly average, not an intraday peak.
IMF series are shown as charts and statistics only; download them from the IMF Primary Commodity Price System.
Cite as: Commodity Origins, "Milk price history (1993–2026)", https://commodityorigins.com/prices/milk/, data 2026-08-06. Data updated 6 September 2026.