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CME spot dry whey has rallied from its 22.5 cents per pound low in mid-2023 to surpass 75 cents, rising 14.5 cents between November 21 and December 13. Analysts attribute the strength to tight whey supplies as cheese output has absorbed much of the milk stream while other dairy commodities fell.
Each one-cent rise in dry whey adds about six cents to the Class III milk price, so the rally supports producer milk checks. Continued tight whey supply could keep the milk complex firm in coming months.
dairyherd.comDec 23, 2024Not 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.
Strong dry whey prices raise the whey value component of Class III, supporting the price level going into the move. The article is from late December, so it is background rather than a trigger.
