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Traders are buying out-of-the-money call options from 1¢ to 30¢ that could make them $10/cwt.

Formal rule making, which can take months, is one option.

USDA also announced that the December parity price for milk was $52/cwt, down a dime from November.

The Senate vote on dairy is simply a continuatin of current law.

The controversial whey factor pricing request galvanizes producer groups but is opposed by processors. State ag department will decide.

World demand for dairy products remains strong, despite higher prices.