Canada’s biggest cheesemaker, Saputo, has reported its highest jump in share prices in almost seven years, after California altered a milk formula that will lower prices for cheese producers, helping them boost profit.

California’s agricultural department recently announced changes to its milk-pricing formula for cheesemakers, which will reduce the price of milk starting in December. The move will improve Saputo’s profit on cheese made in the US state by about 9.5 cents a pound. About 55% of the company’s US cheese is made in California. Saputo’s US dairy operations account for about 24% of its operating income.