Dairy Pricing Opportunity Act of 2023

This bill requires the U.S. Department of Agriculture to hold nationwide hearings within 180 days of enactment to review federal milk pricing rules, focusing specifically on how Class I skim milk prices (used for high-value products like fluid milk) are calculated. It mandates dairy processors to report detailed cost and yield data for all products made at their facilities, which the Secretary must publish biennially to inform future pricing rules. The bill directly affects dairy producers and processors by changing how milk pricing formulas are evaluated and requiring new transparency in processing costs. Key provisions include defining a specific "higher of Class I skim milk formula" for price calculations and creating a structured process for gathering industry input on pricing.