NorthEast Cheese

10/2/2012 3:00 PM

MD DA810 Cheese - Northeast
MADISON, WI. September 26, 2012 (REPORT 39)

Tuesday's CME Group cheese prices moved significantly higher with barrels
advancing 4 cents to close at $2.0000, while blocks advanced 5 cents to
close at $2.0500. In the last 5 trading sessions barrels have advanced
$0.1275 on 5 sales, while blocks advanced $0.1400 on 28 sales. Cheese
production is steady with last week, but down from year ago levels due to
reductions in the available manufacturing milk supply. Domestic demand
for mozzarella is very good as a major pizza maker has launched a new pan
pizza promotion. Most cheddar cheese makers continue to be comfortable
with their current inventories. Export interest remains improved.
Cooperatives Working Together (CWT) has accepted requests for export
assistance to sell 5.88 million pounds (2,667 metric tons) of Cheddar and
Monterey Jack cheese. The products will be delivered from September
through March 2013. During 2012, CWT has assisted member cooperatives in
making export sales of Cheddar, Monterey Jack and Gouda cheese totaling
91.6 million pounds. The latest NASS Cold Storage report shows stocks of
natural cheese in cold storage as of August 31, 2012 totaled 1,003.1
million pounds, down 4% compared to one month ago and down 6% from one
year ago. A majority of the holdings are in the form of American cheese
(61.3%) totaling 615.1 million pounds, 3% less than the amount one month
ago and 5% less than one year ago. The next highest natural cheese
holdings in cold storage are in the form of Other Natural Cheese, (35.8%)
totaling 359.3 million pounds, 5% less than one month ago and 7% less
from one year ago. Swiss cheese accounts for 2.9% of holdings at 28.8
million pounds, 6% less than one month ago and 14% less than one year

Cheddar 40# Block : 2.3525-2.6375
Process 5# Sliced : 2.1200-2.2400
Muenster : 2.3725-2.7325
Grade A Swiss Cuts 10 - 14# : 3.3650-3.6875


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