# The New Landscape for Barrels - Cheese Reporter

> Since June 2025, only the block cheddar price, not the barrel cheddar price, has been used to set the protein value in the Class III milk price. Buyers and sellers have also shifted barrel contracts for 2025 and 2026 to price off the daily CME block price. Block and barrel prices have since varied by only 0.3 cents, compared with an average of 10.3 cents over 2019 to 2024.

- Date: 2025-10-31 · published 2025-10-31T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/22568-the-new-landscape-for-barrels-cheese-reporter
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

The reformed formula changes how U.S. milk protein is valued, which affects the Class III milk price that dairy producers and feed buyers track. Barrel pricing now following block prices reduces the price volatility that barrel cheese previously added to milk prices.

## Read by commodity

- MILK: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-03-11 | [Rationale Builds for Milk Price Reforms - Cheese Reporter](https://feedsoft.ai/events/42417-rationale-builds-for-milk-price-reforms-cheese-reporter.md) | -0.1% | +7.6% |
| MILK | 2020-10-02 | [A Processor Perspective On Price Reforms - Cheese Reporter](https://feedsoft.ai/events/6552-a-processor-perspective-on-price-reforms-cheese-reporter.md) | +3.1% | +7.9% |
| MILK | 2024-12-20 | [Dry Whey In Class III Formula Remains Problematic - Cheese Reporter](https://feedsoft.ai/events/27113-dry-whey-in-class-iii-formula-remains-problematic-cheese-reporter.md) | +0.2% | +8.6% |
| MILK | 2018-12-26 | [Lots of good things for dairy in new farm bill](https://feedsoft.ai/events/61717-lots-of-good-things-for-dairy-in-new-farm-bill.md) | -0.1% | +1.1% |
| MILK | 2020-04-20 | [Sizing up the new farm rescue package - POLITICO](https://feedsoft.ai/events/53626-sizing-up-the-new-farm-rescue-package-politico.md) | -1.6% | -8.7% |

## Sources

- cheesereporter.com: https://cheesereporter.com/news/2025/10/31/the-new-landscape-for-barrels/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.