Northeastern US Cheese Market Remains Strong with Spot Milk Range Growing
Cheese producers in the Northeastern United States have seen increasing strength in their local market. This is due largely to spot milk range growing consistently throughout the region and prices reported from $11 under to flat Class III. Cheese demand has been steady to strong in the midwestern and eastern regions, while mozzarella processors in the west have seen slower pizza sales affecting their markets.
CME Prices Climb
Market tones have shown some relative strength this week, with most industry contacts hopeful that upcoming limits on milk availability and customer requests will continue to drive bullish price movements. The prices of cheese barrels and 40lb blocks on the CME, have continued their climb this week; closing at $1.4650 and $1.5850 respectively.
Weekly Average Price Increases
According to secondary sourced information, the weekly average for cheese barrels increased by $0.0499 while 40lb blocks increased by $0.1110. In comparison, prices during this same week last year were $3 to $1 under Class III.
The Northeastern US cheese market is showing much promise for the near future based on the current trends. To stay up to date on the latest cheese news and consumer pricing, follow our LinkedIn page here to get notified of articles as soon as they come out.