National Milk Producers Federation leaders say the volatility in the cheese market and shifts in milk production because of COVID-19 have given them new issues to work on.
NMPF’s Chief Economist Peter Vitaliano says, “We had then a very significant mismatch month-by-month between class three and class four prices, and between class three and class one prices which are priced basically on a combination of class three and four.”
During their virtual annual meeting Tuesday, Vitaliano said risk management programs need to consider what skim milk powder prices and cheese volatility have done to actual milk producer payments.
