September 11, 2017

Global Dairy Weekly (week ended Sep 8, 2017)

An eFeedLink Exclusive 
 
By JERRY DRYER and MATT GOULD, DAIRY & FOOD MARKET ANALYST

Spot cheese prices rebound as futures decline

Philadelphia, PA–At the CME, block cheese prices rallied 10.25 cents, while barrels inched up 2.00 cents. We heard about another slug of American cheese exports booked this week. With cheese futures prices well below prices in the rest of the world, foreign buyers are starting to notice and are showing more interest. At market close today, cheese futures averaged $1.67/lb for all of 2018.

For comparison, European Cheddar is currently trading between $1.95 and $2.06/lb.

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