National Milk Producers Federation leadership Tuesday unanimously endorsed a proposal to modernize the Federal Milk Marketing Order milk-pricing system. The plan includes returns to the "higher of" Class I mover, discontinuing including barrel cheese in the protein component price formula. It extends the current 30-day reporting limit to 45 days on forward-priced sales of Nonfat Dry Milk and dry whey to capture more export sales in the USDA product price reporting. Additionally, the plan updates milk component factors for protein, other solids and nonfat solids in the Class III and Class IV skim milk price formulas. The plan develops a process to ensure make-allowances are reviewed more frequently through legislation directing USDA to conduct mandatory plant-cost studies every two years, and updates dairy product manufacturing allowances contained in the USDA milk price formulas. Any final proposal will be reviewed by the organization before it’s submitted to USDA to be considered for a federal order hearing.
Tuesday Closing Dairy Market Update - Global Dairy Trade Gains 1.8 Percent
MILK Milk futures are in line with underlying cash and moving in relationship with it. Futures did not move substantially outside of...
-
MILK There had been some optimism that lower milk production in February would get the attention of cheese buyers and they would ste...
-
Cheese prices moved up on bids and no sales taking place. Blocks increased 0.75 cent, closing at $1.8075 and barrels increased 0.50 cent, ...
-
MILK The had been some hope earlier in the week that spot prices had found a bottom and milk futures would be supported. However, th...