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A Cheese Reporter commentary argues that dry whey should be removed from the Class III milk price formula, as it has been above 70 cents per pound for about a month. It notes U.S. dry whey output has fallen to 938 million pounds in 2023 from 1.15 billion in 1999, with October 2024 production the lowest for that month since 1981.
Because dry whey inflates the Class III price when it is high, the formula is sensitive to tight whey supplies. Any change to the formula would alter how producers are paid when whey rallies.
cheesereporter.comDec 20, 2024After 93 past neutral policy events, Milk (Class III) moved a median -0.0% over 5 sessions (48% higher; middle half -0.6% to +0.6%), and +0.2% 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.
