◂ Event Timeline

Jul 1, 2024POLICYUS

USDA Issues Recommended Decision Proposing Amendments to all Eleven Federal Milk Marketing Orders

USDA issued a Recommended Decision proposing amendments to pricing formulas across all 11 Federal milk marketing orders, following a 49-day hearing. Changes include new milk composition factors, using only 40-pound block cheddar prices, updated manufacturing allowances, and a revised Class I skim milk pricing method.

WHY IT MATTERS

Changes to the pricing formulas alter how US milk is valued, which can shift producer returns and dairy herd decisions over time, though the immediate feed price effect is limited.

AFFECTSMilk (Class III)◆

SOURCE
ams.usda.govJul 1, 2024

Price reaction & history

Milk (Class III)◆neutralSO FAR1d -0.2%5d -0.7%20d -0.5%

After 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.

Jan 16, 2025USDA Issues Final Rule on Amendments to the Federal Milk Marketing Orders | Agricultural Marketing Service+0.0%
Nov 14, 2024USDA Agricultural Service Releases Federal Milk Marketing Order Decision - Dairy Producer-0.3%
Feb 24, 2025Pricing Amendments to the Federal Milk Marketing Orders - EveryCRSReport.com+0.0%
Feb 1, 2025Evaluating the Implications of the USDA AMS Final Decision on Federal Milk Marketing Orders (FMMOs)-1.3%
Jul 15, 2024Milk in the Northeast and Other Marketing Areas; Proposed Amendments to Marketing Agreements and Orders | 89 FR 57580+0.5%

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.

Milk (Class III) MILK · GP ▸

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