NorthEast Cheese

6/27/2013 3:00 PM

MD DA810 Cheese - Northeast
MADISON, WI. June 26, 2013 (REPORT 26)

Cheese prices on the CME Group were mixed Tuesday with barrels decreasing
$0.0200 to close at $1.6575, while blocks held steady and closed at
$1.6875. Both barrels and blocks saw significant price declines
following Friday's cold storage report. The weekly average cheese prices
on the CME Group declined last week, and as a result, wholesale prices
for cheddar blocks and Muenster decreased $0.0125, while Process 5#
sliced cheese decreased $0.0250. Wholesale prices for Swiss cuts were
unchanged. Continued strong milk volumes going to cheese plants are
keeping cheese production levels consistent with recent weeks. Inventory
expansion continues, but it is hoped that price reductions will prompt
increases in orders and sales. Export demand remains fairly steady,
supported by export assistance programs. The latest NASS Cold Storage
report shows stocks of natural cheese in cold storage as of May 31, 2013
totaled 1,156.7 million pounds, up 3% compared to one month ago and 8%
higher compared to one year ago. A majority of the holdings are in the
form of American cheese (62.1%) totaling 717.9 million pounds, up 3% from
one month ago and 10% higher than one year ago. The next highest natural
cheese holdings in cold storage are in the form of Other Natural Cheese,
(35.4%) totaling 408.9 million pounds, 4% more than one month ago and 6%
more compared to one year ago. Swiss cheese accounts for 2.5% of
holdings at 29.9 million pounds, up 5% from one month ago and 1% more
than one year ago. A closer look at the cold storage report showed
Eastern stocks of American type cheese totaled 100.5 million pounds, 2.7%
more than last month and 10.7% more than May, 2012. Eastern stocks of
Other cheese, which is primarily Italian type cheeses, totaled 30.2
million pounds, 14.4% more than last month and 31.1% more than May 2012.

Cheddar 40# Block : 2.1225-2.4075
Process 5# Sliced : 1.9650-2.4450
Muenster : 2.1425-2.5025
Grade A Swiss Cuts 10 - 14# : 3.4675-3.7900

Does milk have a lot of untapped potential in today’s competitive beverage market?

  • Yes
  • No
  • Unsure

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