NorthEast Cheese

1/28/2013 3:00 PM

MD DA810 Cheese - Northeast
MADISON, WI. January 23, 2013 (REPORT 4)

Cheese prices on the CME Group declined Tuesday with barrels decreasing
$0.0375 to close at $1.6000, while blocks fell $0.0275 to close at $1.6600.
Cheese prices on the CME Group have been on a downward trend over the last 4
sessions with barrels having a cumulative decrease of $0.0725 and blocks
$0.0500. Increased milk production continues to keep Northeast cheese
operations on 6-7 day production schedules. Cheese demand has improved
following increased retail promotions ahead of the upcoming Super Bowl.
Current cheese pricing is conducive for increased volumes of cheddar to be
moved into aging programs. Exporters are becoming increasing concerned
about the unresolved labor contract with Longshoremen as the strike deadline
date of February 6 approaches. Cooperatives Working Together (CWT) has
accepted requests for export assistance to sell 3.814 million pounds (1,730
metric tons) of Cheddar and Monterey Jack cheese. The product will be
delivered January through June 2013. The latest NASS Cold Storage report
shows stocks of natural cheese in cold storage as of December 31, 2012
totaled 987.9 million pounds, up 5% compared to one month ago and down
slightly from one year ago. A majority of the holdings are in the form of
American cheese (61.2%) totaling 604.9 million pounds, up 4% from one month
ago, but 1% less than one year ago. The next highest natural cheese holdings
in cold storage are in the form of Other Natural Cheese, (35.3%) totaling
348.5 million pounds, 6% more than one month ago, but 1% less from one year
ago. Swiss cheese accounts for 3.5% of holdings at 34.5 million pounds, up
12% from one month ago and 25% more than one year ago.

Cheddar 40# Block : 2.1025-2.3875
Process 5# Sliced : 1.8775-2.3575
Muenster : 2.1225-2.4825
Grade A Swiss Cuts 10 - 14# : 3.8375-4.1600

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