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CME Cheddar blocks closed at $1.60 per pound and barrels at $1.56 in the week before Thanksgiving, both well below year-ago levels. Observers say cheese demand has been weaker than expected despite the approaching peak selling season.
Soft cheese prices weigh on Class III milk values and dairy-based feed ingredient demand. Demand rather than milk supply is the main issue, so the price outlook stays soft.
farmers-exchange.netNov 24, 2023Not 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.
