Find out why cheese and butter prices are falling even though exports are strong. Are market changes showing a new trend? Learn the latest updates and insights.
| Product | Price (per pound) | Change | Lots Sold | Exports (April 2023) | Change Year-over-Year |
|---|---|---|---|---|---|
| Cheese (Blocks) | $1.8440 | – $0.0150 | 7 | 102 million lbs | + 27% |
| Cheese (Barrels) | $1.9550 | + $0.0100 | 11 | 38 million lbs | + 53% (Mexico) |
| Butter | $3.0500 | – $0.0450 | 1 | 5 million lbs | + 23% |
| Spot Milk (Upper Midwest) | $0.50 under class | N/A | N/A | N/A | N/A |
Cheese and butter price futures showed some movement today. Fresh cheese was up for sale in Chicago, and barrel sellers came armed and ready. Buyers stayed engaged, picking up 11 lots—the biggest single-day volume since mid-April. However, cheese futures took a hit, with the September contract slipping more than two cents. Despite two consecutive declines in the cheese market, it still seems likely that US prices are a bit too lofty to compete internationally. Today’s stout April cheese export data offered a good reminder that competitive US prices can help move the needle on exports. Is the upswing in fresh barrel offers at spot perhaps an early sign that the trade winds are shifting?
“In Chicago today, the butter market dipped to $3.0500 per pound, down $0.0450 with 1 lot trading. Meanwhile, chatter of more cheese availability seems to be ringing true. Blocks slipped to $1.8440 per pound, giving up $0.0150, with seven loads exchanged. Barrels, on the other hand, rose to $1.9550 per pound, tacking on $0.0100, with 11 lots sold.”
Summary: The cheese and butter markets saw mixed movements today, with butter and cheese blocks experiencing price drops, while barrel cheese edged up. Active trading was noted, indicating dynamic market shifts and potential changes in supply and demand dynamics.
