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Retired dairy co-op executive Calvin Covington argues that butterfat has overtaken protein as the most valuable milk component under US multiple component pricing. Butterfat has contributed half or more of the Class III price since 2015.
The shift in component value changes the economic signal to dairy farmers, influencing what milk components they produce. It is background commentary and does not describe a new price move.
agproud.comCalvin CovingtonSep 11, 2017Not 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.
