Cheese News: Consumer Pricing, CME Cheese Market & More!
Class III spot milk prices in the Midwest market made a strong rebound, reaching up to $2 over Class during week 32. This marks the first week of the year without any prices below Class reported - a sign of seasonal milk tightness across the regions. Western cheesemakers report that they are still taking in enough spot milk to support production.
Cheese demand is noted as steady, rather than slow, with more barrels available than blocks. This has manifested in a $.1650 margin on the CME spot call. Market tones for the near-term are viewed as bullish to steady.
Recent CME Cheese Prices from August 7 - 11, 2023
- Barrels closed at $1.8250
- Blocks closed at $1.9900
- The weekly average for barrels was $1.8055 (-0.0365)
- The weekly average for blocks was $1.9705 (+0.0095)
These are interesting times for cheese makers, suppliers and consumers alike. With the seasonal milk tightness having an impact on the availability of spot milk to supply production - as well as the existing bullish market on the CME - the cheese market is something to watch. It\\'s always important to be aware of the current cheese market trends.
Keep your finger on the pulse by following our LinkedIn page and get the latest cheese news and market updates!