Find out why cheese prices are climbing. Learn how milk market issues and local disruptions are affecting your favorite dairy products. Get the details here.
Another day of positive growth in the cheese market. Higher CME spot prices have led to a significant increase in block values, reaching the highest level since August 2023. With futures finishing 6.4 cents higher at $2.1390 a pound, it has driven the August all-cheese price to fresh life-of-contract highs. While milk output is a concern in certain cheese-making areas, the overall market is showing promising signs.
| Commodity | Current Price | Change | Highest Price Since |
|---|---|---|---|
| Block Cheese | $2.1390 per pound | +6.4 cents | August 2023 |
| Spot Blocks | $1.9825 per pound | +$0.0450 | – |
| Barrel Cheese | $2.0225 per pound | +$0.0125 | – |
| Butter | $3.0900 per pound | -$0.0150 | – |
Leading Chicago’s dairy market activity today:
- With four shipments sold, spot blocks increased to $1.9825 per pound, gaining $0.0450.
- Barrels likewise rose to $2.0225 per pound, earning $0.0125.
- The lone red on the board was butter, which slid to $3.0900, down $0.0150.
Stability in the dairy market is evident as Class III futures improved, with contracts for third quarters concluding at $21.28 per hundredweight, up $0.45 for the day. Simultaneously, adjacent Class IV contracts remained steady at $21.35, indicating a balanced market.
Though steady from last week, Midwest spot milk prices this week averaged—$1.50, significantly above last year’s price of—$7.75 and the five-year average of—$2.73. Cow comfort still presents difficulties in many areas of the United States, resulting in limited supply.
