Cheese Producers News: Western U.S. Cheese Market Trends as of July 12, 2023
With Q3 of 2023 already underway, demand for varietal cheese remains steady in food service channels while retail demand is moderate. Certain types of cheese have seen a lot of attention so far this year, including cottage cheese and cream cheese. On the other hand, cheese manufacturers’ reports of less demand for frozen pizzas have lead to diminished mozzarella sales. Currently, Class III milk is readily available, allowing for cheese manufacturers to maintain steady production.
Further, the Commodity Exchange (CME) reveals that warehouse capacities and availability of barrel and block cheese is strong to meet current demands. Export demand for cheese is mixed, yet some sources report steady demand. There is also interest from Asian and Mexican buyers. The CME has also reported an increase in barrel cheese prices from $1.3425 to $1.3900 and an increase in block cheese prices from $1.3525 to $1.4750 since last Wednesday.
Wholesale Selling Prices (Delivered)
Wholesale prices for a number of cheeses have been updated for the period July 10-14th, 2023. Cheddar 10 pound cuts and Monterey jack 10 pound blocks are both up in the Western U.S., with low rates of $1.7150 and $1.7025, respectively. Cheddar 40 pound blocks saw an increase, with a low price of $1.4675. Process American 5 pound loaf is slightly down for the week, with a low rate of $1.4575. Lastly, Swiss 6-9 pound cut wholesale prices are unchanged.
Fluctuating cheese market trends can be closely monitored as conditions respond to ongoing demands and industry fluctuations. To stay up-to-date with the latest news in the cheese processing sector, be sure to follow Otter Foods on LinkedIn (https://www.linkedin.com/company/otter-foods).