The Latest: May - 2025
Cheese Markets Soar
The cheese markets soared. CME spot Cheddar blocks leapt 11.25ȼ to $1.93 per pound, their highest price since January. Barrels followed hot on their tail, climbing 11ȼ to $1.88. The widely anticipated increase in U.S. cheese output is underway, but the ramp up has been slower than expected. Cheese buyers who were waiting for heavy supplies and lower prices to lock in their summer needs are now scrambling to get their hands on some product.
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Pass the egg nog, please. USDA announced the highest Class III price in five years. That’s a lot of Christmas cheer heading for dairy producers’ mailboxes. The butter market, however, is suffering a holiday hangover.
View reportThe gains were driven by impressive improvements in milk production per cow. Higher prices and mild weather have boosted milk output.
View reportSpot Cheddar is still at a rather lofty perch and spot barrels have the highest value in more than five years. The markets are doing their job.
View reportCME spot Cheddar barrels reached a five-year high, then the bids dried up.
View reportThe Cheddar market was already red hot, but barrels pushed the mercury even higher this week.
View reportFresh cheese is tight, and the markets seem to have someone – or several someones – over a barrel. High prices are working to trim demand at the margins, boost production, and attract imports.
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