# Perfect storm of demand lifts cheese market | Capital Press

> Cheese prices on the CME fell to about $1 a pound in spring as foodservice demand collapsed, and Class III milk dropped to $12/cwt. Cheese has since recovered above $2.50 and Class III is near $21. Processors limited milk supply, and US cheese exports rose as producers capitalized on low prices.

- Date: 2020-07-21 · published 2020-07-21T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/52276-perfect-storm-of-demand-lifts-cheese-market-capital-press
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

The sharp rebound reflects a supply correction that could overshoot, meaning dairy prices may reverse quickly and affect milk-based feed ingredient values.

## Read by commodity

- MILK: bullish ▲

## Sources

- capitalpress.com: https://capitalpress.com/2020/07/21/perfect-storm-of-demand-lifts-cheese-market/

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