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Cheddar blocks at the CME finished January at $1.5750 per pound, the lowest since May 2020, and barrels fell to $1.39. Cheese demand was mixed by type, with retail Cheddar sales firm but mozzarella and foodservice demand softer.
Midwest cheese production stayed busy.
Falling cheese prices and busy production point to weak milk demand and continued pressure on dairy prices.
capitalpress.comLEE MIELKEFor the Capital PressFeb 2, 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.
