Milk prices follow the farm price of raw milk.
A gallon of whole, fortified milk averages $4.22 — about 0% below its November 2022 record and +4.8% versus last year.
Where milk prices stand
Milk is near the top of its historical range: a gallon of whole, fortified milk averaged $4.22 in May 2026, +4.8% from a year earlier and +2.0% from the prior month — leaving it about 0% below the record $4.22 it reached in November 2022.
What drives milk prices
Retail milk tracks the farm price of raw milk, which turns on three things: how many cows are in the national herd, how much each cow produces, and what it costs to feed them. Because milk is produced continuously and spoils fast, there is little room to store it, so prices shift as supply and demand move through the year. Federal milk marketing orders and dairy programs also shape what farmers are paid, and that flows through to the carton — which is why milk can climb even when storable dairy like butter or cheese is easing.
A real shelf price
Every figure here is the BLS average retail price for a gallon of whole milk, tracked monthly since July 1995 — an actual dollar amount shoppers paid, not a wholesale quote or a forecast.
Frequently asked questions
How much does a gallon of milk cost right now?
Whole, fortified milk averaged $4.22 per gallon at the U.S. city average in May 2026, per BLS CPI Average Price Data.
Why are milk prices rising?
Retail milk tracks the farm price of raw milk, set by the size of the dairy herd, output per cow and feed costs. Milk is +4.8% year over year as of May 2026.
Is milk at a record high?
As of May 2026 milk is about 0% below its record high of $4.22 (November 2022).
Explore milk prices
See the full price history and how milk tracks the dairy herd and feed costs.