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.
Friday Closing Dairy Market Update - USDA Raises Milk Production
GENERAL OVERVIEW: Milk futures ended the day lower with most Class III contracts again making new contract lows. USDA increased its milk pro...
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GENERAL OVERVIEW: Traders had something to get excited over, resulting in milk futures increasing significantly. The strength in che...
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California milk production is seasonally decreasing but still supplying the needs of dairy commodity manufacturers. Processors report milk a...
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GENERAL OVERVIEW: Class III milk futures closed lower in most traded contracts. The weakness of blocks triggered selling as traders ...
