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Sarina Sharp notes that whey protein demand is strong, with CME spot whey powder at 80.5 cents per pound, the highest since February 2022. Food-grade whey stocks are up 37.4 percent year over year, while exports are strong and cheese vats are kept full.
Strong whey demand supports dairy processing margins and the milk value, while full cheese production limits the signal to cut output. Market pricing is firm for whey.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.