# Weekly Forecast – Jan. 5, 2024 | Ceres

> Ceres notes that CME cheddar blocks started 2024 near $1.40/lb versus over $2/lb a year earlier, while butter is higher year on year. Whey prices are expected to stay in a similar range through 2024, with new capacity ramping up and Chinese demand for US whey weighed by poor pork margins and African swine fever outbreaks.

- Date: 2024-01-05 · published 2024-01-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/5895-weekly-forecast-jan-5-2024-ceres
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weak cheese prices and rising whey capacity point to softer US dairy product values, while Chinese feed demand for whey is constrained by disease-hit pork margins.

## Read by commodity

- MILK: bearish ▼

## Sources

- ceresdrm.com: https://ceresdrm.com/weekly-forecast-jan-5-2024/

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