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CME block cheddar fell to $1.35 per pound the week of March 13, its lowest since May 2016, before rebounding to $1.40 on March 17. Barrels hit $1.35 and then recovered to $1.3650, as Winter Storm Stella disrupted the Northeast and cheese demand stayed lackluster.
Weak cheese demand and abundant fresh cheese keep dairy prices under pressure, with spot milk priced well under Class III.
leadertelegram.comLee MielkeMar 20, 2017After 42 past weather events, Milk (Class III) moved a median +0.2% over 5 sessions (52% higher; middle half -0.9% to +2.5%), and +2.0% over 20.
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.
