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Dry whey, whey protein concentrate and whey protein isolate prices have risen sharply over the past three months, with CME spot dry whey up about 12 cents in a month. The author questions whether weak Chinese hog and pork prices, which push farm margins below breakeven, could curb whey import demand.
China is the largest whey importer and much of it goes into hog feed, so a weaker Chinese hog sector could limit the whey rally. Each 1 cent move in dry whey shifts Class III milk about 6 cents.
hoards.comNate Donnay, StoneX Group Inc.Nov 20, 2023Not 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.
