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The Wisconsin Cheese Makers Association reports cheddar output down 2.9% and all American-style cheese down 0.6% through April 2022. Cheddar blocks have traded in the $2.20 to $2.39 range for two months.
New cheddar, Colby and jack capacity is expected to come online, and the Class III milk price set a record of $25.21/cwt in May.
Softer cheese output and record milk prices are squeezing cheesemakers, while coming capacity could ease cheese supply later. Milk prices are likely to stay high in the near term.
wischeesemakersassn.orgJohn UmhoeferJun 13, 2022Not 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.
