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Cash block cheddar closed at $2.6475 per pound on Oct. 9, up 3.75 cents on the week, and reached $2.7175 on Oct.
13, the highest since July 15. Barrels closed at $2.0550 and hit $2.14.
Mielke reports that Midwest cheese demand was mostly positive, while export demand has cooled due to higher U.S. prices.
Firmer cheese prices lift Class III milk values and support dairy-sector demand for feed. Cooling export demand is a modest offset.
capitalpress.comLEE MIELKEFor the Capital PressOct 13, 2020Not 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.
