Milk protein prices drop to 16-year low

At $1.2248 per pound, protein fell to the lowest levels, as calculated by the Federal Milk Marketing Order system, since December 2000. Milkfat is back, however. That is welcomed news to struggling dairy farmers.At $2.9456 per pound, butter is now driving milk checks. With the August 2 federal order announcement, milkfat prices came close to previous highs posted in November 2015 ($3.1830 per pound) and September 2014 ($3.2467 per pound). A more in-depth review of butterfat prices also can be found at Understanding Dairy Markets.