Cheese Remains Solid - Cowsmo

Cheese Remains Solid

Cash cheese and nonfat dry milk prices held steady on the Chicago Mercantile Exchange on Wednesday. Butter increased a half-cent on one unfilled bid.  Class III futures nudged higher with the October, November and December contracts at $17 or higher.

National Dairy Products Sales Report for the week ending March 21st; cheddar cheese blocks averaged $1.57 per pounds up 1.1 cents from the previous week.  Barrels increased 2.8 cents to average $1.56 per pound, butter decreased 1.3 cents to $1.71, nonfat dry milk fell 6.3 cents to $1.01 and dry whey slipped 0.9 cents to 46.7 cents per pound.

Midwest cheese makers are busy taking care of the increasing volumes of milk; Dairy Market News says cheese continues to be a profitable outlet for processors as domestic retail and foodservice demand remains strong. Buyers seem to be willing to buy and hold cheese at these prices as evidenced by the February Cold Storage Report.

Prices of foreign cheeses fell slightly this week, the lower Euro is making imports a little more attractive to some U.S. buyers. Many in the U.S. dairy industry are waiting to see how European producers will react once the production quotas come off on April 1st.

By Bob Meyer

Source: Brownfield Ag News for America

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