
CME dry whey prices reached their highest level since trading began in 2018 in October, according to the National Milk Producers Federation. August dry whey exports set an all-time record, with Southeast Asian purchases up 94% and exports to Canada nearly quadrupling, while domestic use declined as whey was directed to protein concentrates.
Record export pull and tight supply support US whey values, while high prices may eventually curb demand from budget-constrained consumers and buyers of whey protein concentrates. Whey strength also supports the value of milk solids.
After 41 past bullish trade events, MILK moved a median -0.1% over 5 sessions (49% higher; middle half -1.3% to +8.1%), and +1.1% 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.