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Dairy prices rose early in August, with cheddar blocks reaching $1.7875 per pound before closing the week of Aug 4 at $1.6975. Barrels hit $1.66 before finishing at $1.53, both well below year-ago levels.
Chinese cheese demand was reported at record highs, with US volumes to China up from a year earlier.
Cheese prices are volatile but remain below last year, and export demand from China supports the cheese complex. Milk supply trends and export flows will determine whether prices hold these levels.
capitalpress.comLee MielkeFor the Capital PressAug 8, 2017Not 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.
