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Dairy farmers and processors continue testifying at a USDA hearing on the Federal Milk Marketing Order system, now in its sixth week. Class III milk prices for October through December have fallen 72 to 78 cents since the hearing began, while cheese blocks and barrels are lower and butter, whey and nonfat dry milk are higher.
Lower cheese values are pulling down Class III milk checks for producers, and any change to make allowances or pricing formulas would reshape processor and farm-gate milk returns. Feed buyers should expect dairy-sector margin pressure to persist into the fourth quarter.
brownfieldagnews.comLarry LeeSep 26, 2023After 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.
