The Latest: January - 2025
Cheese Markets Are Searching for Direction
In the rearview mirror, booming exports and a steep drop in U.S. cheese stocks argue for higher prices. On the horizon, a potential trade war, a strong dollar, and shiny new cheese plants have set the stage for a setback.
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Though the bulls made headway, their progress was laborious. Each week they argued that tighter milk supplies and falling cheese inventories should lift prices. Now, the bulls are clearly in charge.
View reportFootball season has arrived, schools are back in session, and cheese demand is excellent. Output is not keeping pace. While Cheddar blocks score fresh multi-year highs, spot butter reached a milestone of a very different sort.
View reportThis weeks rise in cheese prices in an already lofty market are truly impressive. Last week’s Cold Storage report showed an astounding drawdown in cheese inventories, and the spot markets suggest that fresh supplies are tight.
View reportDespite the rough week in the dairy pits, dairy product prices and Class III values in particular will soon find their footing.
View reportThe spot markets have been buoyed by robust near-term fundamentals. However, dairy futures were far from exuberant this week and some new clouds have moved onto the horizon.
View reportThe stock market suffered its worst losses of the year on Monday but the U.S. dairy markets remain firmly supported as milk tightens. On Monday, USDA will publish its much-anticipated Acreage and Crop Production reports. Next week could be volatile.
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