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CME block cheddar climbed to $1.7525 per pound by June 7, while barrels closed at $1.5350 after dipping to their lowest since March. Cheese orders were picking up and the wide block-barrel spread was squeezing plant milk purchasing.
Firmer cheese demand and a wide spread between blocks and barrels support near-term milk pricing, though the spread creates buying challenges for barrel makers.
capitalpress.comLEE MIELKEFor the Capital PressJun 11, 2019Not 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.
