The process damping effect is analyzed for regenerative machine tool chatter in milling via a velocity-dependent cutting force model. This model takes into account that the effective cutting direction depends on the vibrations of the machine tool-workpiece system, which modifies the effective rake angle, the chip thickness, and the cutting force. The model was originally introduced for turning operations where it results in a process damping term that improves the stability of metal cutting at low cutting speeds. Now this model is extended to milling. It is shown that the vibration-dependency of the cutting direction induces a time-periodic process damping term that is negative when the radial immersion is low. This decreases the stability at low cutting speeds, thus the low-speed stability improvement phenomenon in low radial immersion milling can be explained by extended process damping models only.