National Milk Price Formula Update Shows Minimal Change
October 8, 2024The Canadian Dairy Commission has released the results of their National Pricing Formula for farmgate milk prices. To calculate the magnitude of price adjustments to milk components, the National Pricing Formula (NFP) uses 50% of the annual change in iCOP and 50% of the annual change in CPI. The NPF result is a decrease of 0.0237% on February 1, 2025. This will not necessarily translate into the next price adjustment, but does suggest any change will be very minimal.
Please let Avery Bruenjes, Director Regulatory Affairs abruenjes@retailcouncil.org know by October 10, 2024 if you would like to invoke the exceptional circumstances clause, whereupon CDC will suspend the results of the NPF and hold consultations on a potential price adjustment and on the support price for butter. As a reminder, last year, the NPF increase of 1.7736% was shifted from February 1 to May 1 after consultation.
