# Why have protein prices been so high?

> Stephenson explains that negative producer price differentials this year came from very high protein prices, which reached record levels in June and July. Protein values are calculated from cheese prices, and butterfat prices have been lower than in recent years. The result is high Class III values relative to other classes.

- Date: 2020-10-08 · published 2020-10-08T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/50794-why-have-protein-prices-been-so-high
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

High cheese-driven protein values raise the Class III price and distort federal order pool payments. This reflects existing strength in dairy markets rather than a new shock.

## Read by commodity

- MILK: bullish ▲

## Sources

- hoards.com: https://hoards.com/article-28866-why-have-protein-prices-been-so-high.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.