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Cheese Market News - Cheese Market Overview For September 29th, 2023

Cheese makers and producers around the country are facing various challenges in the market, with varying levels of impact across the US. Unseasonably warm weather has affected milk production in the Northeast—which has drawn upon regional milk purchases for school bottling. Milk volumes are now tight and spot loads are being sold at $1 above Class and higher. In the West, the strong Class III demand is reducing cheese production, but this is compensated by steady retail and food service demand.

Cheese Demand Across The US

In the Northeast, cheese demand is lighter than usual as compared to summer months. From the Midwest to the West, however, cheese demand is steady from both retail and food service purchasers. Cheese barrel makers are now saying that inventories are not an immediate concern, despite increased bearishness for cheese barrels compared to blocks.

Cheese Prices On The CME

The weekly average for barrels, issued on September 29th, 2023, was $1.5185 (-0.1125) while for blocks the average was $1.7465 (-0.0755). On the same day, the closing price for barrels was $1.4800 and 40# blocks was at $1.7200. We have provided a list of the latest past CME cheese prices at the bottom of this article for reference.

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