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Cheese Prices Push Higher, Milk Markets Climb

It was another day of green in the cheese market. CME spot prices pushed higher, with block values reaching the highest level since August 2023. That propelled the August all cheese price to new life-of-contract highs, with futures closing 6.4 cents higher at $2.1390 per pound. Anecdotal reports suggest that milk production remains a point of anxiety in some key cheese-making regions. There have also been reports of some disruptions at regional cheese plants, which could be stirring up some fresh supply concerns.

Leading dairy market action in Chicago today, spot blocks rose to $1.9825 per pound, tacking on $0.0450, with four loads traded. Barrels also increased to $2.0225 per pound, gaining $0.0125. Butter was the only red on the board, slipping to $3.0900, down $0.0150.

June 13, 2024



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