Wednesday marked the first day of a once-in-a-generation hearing on federal milk pricing. USDA’s Federal Milk Marketing Order hearing is underway as dairy producers make their case for changes to the pricing program. National Milk Producers Federation President and CEO Jim Mulhern says, “Thanks to the tireless efforts of dairy farmers and their cooperatives, this industry is poised for progress as Federal Milk Marketing Order modernization is now in sight.” The industry expects five to seven weeks of testimony and discussion on proposals to modernize the FMMO system. Following USDA’s initial presentations, the hearing will then launch into discussions of specific issues placed within the scope of the hearing. After the hearing’s conclusion, entities involved in the hearing then have a period of time to respond to the testimony, followed by a USDA draft decision, then more discussion, and ultimately a vote among dairy farmers on a final proposal, likely in the second half of 2024.
Wednesday Midday Dairy Market Summary - Milk Futures Move Limit Up
OUTSIDE MARKETS SUMMARY: CORN: 8 Lower SOYBEANS: 8 Lower SOYBEAN MEAL: ...
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MILK There had been some optimism that lower milk production in February would get the attention of cheese buyers and they would ste...
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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, ...
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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...