Cash cheese prices have increased 21 cents for blocks and 16.75 cents for barrels over the last nine days on the Chicago Mercantile Exchange. At the close Wednesday, barrels are at $1.455 and blocks at $1.49. Dairy Market News says the increasing prices and increasing milk production has prompted cheese makers to increase cheese production.
Some very experienced cheese traders are not quite sure why this is happening. Even though cheese production is picking up and there is a lot of cheese in storage there are not a lot of sellers on the CME and those unfilled bids keep pushing the price up. About the only “positive” influences on the market right now are the increasing world powder prices as evidenced by the latest Fonterra auction and the CWT export enhancement program which has been active the last two weeks.
Unfortunately, the higher prices are making buyers more reluctant, some analysts say $1.40 is the “tipping point” for the world market and some fear another “correction” is going to take place before summer. That threat makes those $15.00-plus prices in August, September and October look rather attractive.
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It is a great tradition,as milk is more than likely the closest perfert food known. too bad schools dont teach this any more! If its replaced it will be some artificial crap!!