Prices for blocks, barrels at the CME Group move below $2 for the first time this year
The lower prices have some buyers looking to increase orders and build their own stocks. Export demand has slowed as international prices are more competitive to our market.
CHEESE HIGHLIGHTS: Cheese production across the U.S. is mixed. Some of the Southern regions are past peak milk production. Milk availability is varied sometimes within regions. The northern edge of the Central region is slow to show a spring flush this year, while much of the Midwest is experiencing increasing volumes. This is allowing plants that want to increase production, the ability to find additional milk at increasingly favorable prices on the spot market. Advertised U.S. cheese prices are slightly higher for many of the package varieties this week compared to two weeks ago. The National Dairy Retail Report had higher prices for four of the five categories. Spot cheese prices continue to show weakness with blocks and barrels at the CME Group moving below $2.0000 for the first time this year. The lower prices have some buyers looking to increase orders and build their own stocks. Export demand has slowed as international prices are more competitive to our market. Barrels at the CME Group closed Friday at $1.9600, down 6 cents from last Friday. Blocks closed the week at $1.9975, down 4.75 cents from the previous week.