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The Wisconsin Cheese Makers Association and the International Dairy Foods Association petitioned USDA to begin rulemaking and hold a hearing on make allowances in federal milk marketing orders. The groups say these allowances have not been updated in 15 years while processing costs have risen.
A make allowance increase would lower the minimum milk price paid by cheesemakers, which could affect farm milk prices. The policy outcome is uncertain because USDA has not yet decided on the petition.
cheesereporter.comApr 14, 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.
