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Block cheddar closed the first week of 2019 at $1.4175 per pound and barrels at $1.3025, both well below year-earlier levels. Markets were quiet and traders expected discounts on milk to persist until mid-January, with USDA report delays due to the government shutdown.
Weak cheese and milk prices reduce dairy farm incomes and signal soft demand for dairy products. Delayed USDA data adds uncertainty to dairy price discovery.
capitalpress.comLEE MIELKEFor the Capital PressJan 8, 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.
