MRV BLOG: MRV Market Commentary February 20, 2026

Check-in here to see the MRV commentary on what we have seen and are seeing in the dairy market.  These insights have been developed from MRV’s proprietary data, industry experience, and industry reports referenced below. Here’s our latest:

March Milk Market Update: Class I Prices Rise

As part of the monthly pricing set by the Federal Milk Marketing Order, the March Class I base milk price increased by $0.77 from February, landing at $15.47 per hundredweight.

With regional adjustments included, the national average Class I price is projected at $19.59 per hundredweight. Prices vary by region, with Florida seeing the highest levels and Arizona among the lowest this month.

WHAT MRV SEES:
This month’s increase was driven by stronger Class IV skim milk pricing, which exceeded Class III and became the “higher-of” factor used in the federal pricing formula. Improved butterfat values also contributed to the overall lift in the Class I mover, though overall milk prices continue to track below year-ago levels. Looking ahead, continued strength in dairy product markets like butter and powder could support modest price gains, but volatility remains a factor in the months to come.

This information cited by MRV Marketing, LLC is for informational and reference purposes only. It is not intended to be a conclusive statement of future market conditions. It is not legal advice or legal documents. The data used in these documents contains references to information created and maintained by other organizations or agencies. Please note that MRV Marketing, LLC does not control and cannot guarantee the accuracy of these outside materials.

Statistical data referenced here is gleaned from reports by MRV Proprietary Data, CME Group, Dairy Herd Management, USDEC and USDA.