NorthEast Cheese

5/11/2013 3:00 PM

MD DA810 Cheese - Northeast
MADISON, WI. May 08, 2013 (REPORT 19)

Cheese prices on the CME Group were mixed Tuesday as barrels held steady
and closed at $1.7350, while blocks registered their largest decline of
the year, dropping $0.0500 to close at $1.8650. Tuesday's trading lowered
the spread between barrels and blocks to 13 cents, which is the lowest
it's been since April 23. Last week's trading on the CME Group saw the
weekly average price for barrels decline, while advancing for blocks.
The net result saw wholesale prices for cheddar blocks and Muenster
increase $0.0275, while Process 5# sliced cheese decreased $0.0375.
Wholesale prices for Swiss cuts declined $0.0375 following last
Wednesday's Class III milk price release. Cheese production continues to
be strong as seasonal milk production increases are channeling more milk
to cheese plants. Cheese inventories are building, which is typical for
this time of year. Some cheese makers are increasing their inventories
of cheese going into aging programs. Domestic demand for cheese remains
fairly good with good pulls from retail chains and pizza makers. Most
cheese makers in the region are very comfortable with their expanding
inventories and look to build more to cover their needs for later in the
year when milk supplies and cheese production schedules may be limited.
Export interest for cheese remains fairly good, but volumes going for
export have declined over the past few weeks.
DAIRY PRODUCTS: According to the latest NASS report, total cheese
production for March in New York was 64.3 million pounds, 9.6% more than
February, but 9.4% less than March 2012. Pennsylvania produced 40.3
million pounds in March, 16.2% more than one month earlier and 13.4% more
than one year ago. Vermont produced 10.7 million pounds, 1.3% more than
last month and 6.6% more than March 2012. The total of all cheese
production for March in the Atlantic region was 124.6 million pounds, up
12.3% from February, but 1.8% less compared to the same period last year.
Atlantic region cheese production accounted for 13.1% of total U.S.
production. Total U.S. cheese production in March totaled 954.3 million
pounds, 11.5% more than February, but 0.2% less than March 2012.
Cumulative 2013 U.S. Cheese production was 0.6% greater than 2012.
Focusing on Italian cheese, New York production in March totaled 32.5
million pounds, 14.0% more than February, but 4.3% less than March 2012.
Pennsylvania produced 25.9 million pounds in March, 15.8% more than
February and 22.3 more than March 2012. The Atlantic region in March,
produced 65.6 million pounds of Italian cheese, 16.2% more than February
and 3.4% more than last year.

Cheddar 40# Block : 2.2925-2.5775
Process 5# Sliced : 1.9075-2.3875
Muenster : 2.3125-2.6725
Grade A Swiss Cuts 10 - 14# : 3.3925-3.7150
2013 U.S. Cheese and Curd Exports, (USDA-FAS)
(Million Lb.) % Change From
1 Year Ago
Mar. Total 58.3 + 5
Total Jan.-Mar. 154.4 + 8
1 Mexico 34.0 + 2
2 South Korea 23.5 + 12
3 Japan 21.5 + 37
4 Australia 7.1 + 14
5 Canada 6.9 + 3

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