Dairy is a family of distinct physical products, not one interchangeable commodity. Fluid milk, butter, cheese, nonfat dry milk, whole milk powder and whey require separate specifications, units, quality evidence, origin, quantity, currency, Incoterm, destination and delivery window.
The figures below are USDA FAS 2024/25 production estimates. They describe dated market scale, not live physical offers. USDA grade standards are voluntary, and CME dairy contracts are cash-settled reference instruments rather than delivered dairy lots.
Raw or processed fluid milk, butter, cheese, nonfat dry milk, skim milk powder, whole milk powder and dry whey have different composition, handling, shelf-life, tariff classifications and end uses. Atlas preserves product form, fat and protein basis, treatment, packaging, origin and intended use instead of turning dairy into one generic market.
USDA describes its dairy grade standards as voluntary and maintains product-specific standards for butter, cheeses, milk powders and whey. A commercial comparison may additionally require moisture, milkfat, protein, microbiological, residue, heat-treatment, solubility, scorched-particle, sensory, certification and plant-approval evidence tied to named sampling and test methods.
USDA FAS production totals describe dated global scale. USDA Dairy Mandatory Market Reporting covers reported sales information for butter, cheddar cheese, dry whey and nonfat dry milk. CME dairy futures are cash-settled references with product-specific contract sizes. None alone establishes the delivered price of an unspecified dairy lot.
No. Fluid milk, butter, cheese, milk powders and whey differ in composition, processing, storage, units, tariff treatment and commercial specification.
They are dated production estimates. The reviewed USDA FAS summary reports 673.29 million metric tons of fluid milk, 22.52 million metric tons of cheese and 11.97 million metric tons of butter for 2024/25.
No. CME Class III and Class IV Milk futures are cash-settled reference contracts. A physical offer additionally needs exact product, composition, treatment, location, quantity, currency, delivery terms and timing.
Product form, fat and protein basis, processing and heat treatment, quality limits, packaging, certification or plant evidence where required, origin, quantity, currency, Incoterm, destination, delivery window and evidence date.
Figures retain their source, period and review date. Corroboration is not promoted to primary evidence.