Cheese Producers News: Consumer Pricing and CME Market Trends for 2023-09-27

Cheese producers and retailers in Europe are facing an increasingly challenging market as spot prices for milk are on the rise and production is in decline across the region. Cheesemakers are struggling to keep up with demand, as orders outpace existing supplies. Meanwhile, retail demand is steadily increasing, matching seasonal trends in southern Europe.

The U.S. domestic price of blue, gorgonzola, parmesan and romano cheese is down by nearly 8 cents. According to the U.S. Department of Agriculture, prices of imported foreign varieties of cheese like Swiss, Jarlsberg, Sardo Romano and Reggianito are relatively steady at the same time.

Latest CME Cheese Prices for Week of September 25, 2023

The Chicago Mercantile Exchange reported the following changes in dairy pricing for this week: Barrels of cheese cost an average of $1.5825, while 40 pound blocks averaged at $1.7800. By comparison, on September 28, barrels of cheese had an average cost of $1.4700, with blocks costing $1.7200.

Conclusion

It is becoming increasingly difficult for cheese producers and retailers to keep up with changing market conditions across Europe. Cheese inventories are tight, while demand from both consumers and export markets remain strong. Prices across imported foreign varieties and domestic options remain relatively steady, though the current cost of cheese is significantly lower than what it was just a week prior.

At Otter Foods, we keep our finger on the pulse of the cheese industry and update our readers on all the latest news, trends and developments. We invite you to follow our LinkedIn page (https://www.linkedin.com/company/otter-foods) for daily updates on the industry and to get notified of articles as soon as they come out.