Cheddar Blocks Set New Record High
July 13, 2020
The cheese market set a new record price again on Monday. In fact, it was the first time that cheese had reached the $3/ lb. threshold. Cheddar blocks rose 8.5 cents to $3 per lb. settlement following 7 trades and 2 uncovered bids. Barrels also gained 6.25 cents as 5 loads moved from seller to buyer. Butter followed suit as well adding 3 ¾ to $1.72 ¾. Butter moved 11 loads. Grade A nonfat dry milk ended unchanged at $1.01.
Dry whey jumped 3 cents to 31 ¾ which still remains among the lower end of their range. Milk prices strengthened ad much as 70 cents throughout the day in Class III but ended up around 20-30 in 2020. 2021 prices gained 10 cents as well. Class IV prices were mainly unchanged.
Grain markets struggled to begin the week, losing 8 cents in corn, 15 in soybeans and 3-11 in the wheat complex.