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CME spot cheddar blocks rose 12.75 cents in the week to $1.5625 per pound, and barrels climbed 3.5 cents to $1.445. US cheese exports hit a record November volume of over 85 million pounds, led by shipments to Mexico.
Processors are boosting cheese output in the US, New Zealand and Europe.
A rebound in cheese prices supported by record exports may firm milk values, but rising global cheese output caps the upside, keeping dairy-side demand for feed ingredients subdued.
ruralradio.comJan 14, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
