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U.S. cheese stocks hit new monthly high

U.S. cheese stocks at the end of February were at record high levels.

Production has been strong because of high milk production levels, but while domestic demand is good, export demand is slow because of international competition.

The USDA says the total for cheese was 1.257 billion pounds, up 6% on the year, with American 8% higher at 774.070 million, Swiss jumping 10% to 27.052 million pounds, and other types 3% higher at 456.299 million.

Butter stocks were 283.623 million pounds, 20% more than a year ago, also seeing strong production levels and good domestic demand, but fairly slow export demand.

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