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USDA will implement updated Federal Milk Marketing Order formulas on June 1, 2025, after producers approved the changes in a December referendum. Make allowances rise, lowering the Class III formula price by about 90 cents per cwt and the Class IV price by about 85 cents, and the Class III price will be based on block cheddar only.
Lower formula prices from higher make allowances reduce the regulated milk price, a modest bearish factor for milk returns once implemented.
milkproducerscouncil.orgGeoff Vanden HeuvelJan 18, 2025After 24 past bearish policy events, Milk (Class III) moved a median -0.1% over 5 sessions (33% higher; middle half -1.8% to +0.5%), and -4.6% over 20.
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.
