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CME cheddar blocks and barrels closed the week of June 25 near $1.49 per pound, with barrels briefly at $1.47, the lowest since March. Spot butter closed at $1.7175, down 6.75 cents on the week, and West cheese demand was steady to lower amid trucker shortages building warehouse inventories.
Weak cheese prices and rising warehouse stocks signal soft dairy demand, keeping milk-based feed ingredient prices under pressure.
en.edairynews.comDesirée JuarezJun 30, 2021Not 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.
