Market Reports

The cheese markets stand well below the summer peaks but have made a surprisingly quick return to the lofty elevations from a month ago. Despite the impressive uphill sprint, the trade is clearly questioning the cheese market’s stamina.

Steep losses at mid-week and a Friday rebound added up to net gains across the board.

Cheddar markets lost a lot of ground, but tried to put up a fight. Barrels regained some territory signaling that the market is fumbling about for fair value.

Cheesemakers are still going strong, and spot milk continues to move in the Midwest. However, demand is lackluster with foodservice outlets pulling back on orders in some areas.

Although cheese prices are much lower now than they were in June, cheese vats remain full. The other dairy markets tumbled this week as well and the futures bled copious red ink.

Although things had started to bounce back in June, the fledgling economy recovery seems to have stalled in July as the virus rages on. The initial panic has calmed, but the pandemic will continue to disrupt the dairy industry in myriad ways.