# Lee Mielke: Traders push cheese prices skyward | Capital Press

> CME Cheddar blocks closed at $2.1225 per pound on Oct. 25, up 15.5 cents on the week, and barrels closed at $2.25, the highest since 2014. Cheesemakers reported limited spot milk supply while demand was steady, and government cheese purchases were rising.

- Date: 2019-10-29 · published 2019-10-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4109-lee-mielke-traders-push-cheese-prices-skyward-capital-press
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Rising cheese prices lift Class III milk values and dairy farm returns, supporting dairy feed purchasing.

## Read by commodity

- MILK: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2019-11-04 | 5 | +8.1% | 3.8 | Cheddar blocks and barrels surged to multi-year highs (barrels at $2.25, highest since 2014) on tight spot milk supply, directly driving Class III futures higher in the window. |
| MILK | 2019-11-05 | 5 | +8.7% | 3.4 | Cheddar block and barrel cheese prices surged (barrels highest since 2014) on tight spot milk supply, directly lifting Class III, which is priced off cheese. |
| MILK | 2019-10-29 | 1 | +8.2% | 23.0 | Cheddar blocks jumped 15.5 cents on the week and barrels hit the highest since 2014, with tight spot milk supply and rising government cheese purchases; cheese is the main driver of Class III. |
| MILK | 2019-10-30 | 1 | +8.2% | 21.7 | Cheese blocks and barrels rallied to multi-year highs (barrels highest since 2014) on tight spot milk supply and rising government purchases, which directly feeds Class III pricing. |

## Sources

- capitalpress.com: https://capitalpress.com/2019/10/29/lee-mielke-traders-push-cheese-prices-skyward/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.