MD DA810 Cheese - Northeast
MADISON, WI. May 1, 2013 (REPORT 18)
NORTHEAST WHOLESALE CHEESE:
Cheese prices on the CME Group were mixed Tuesday as barrels declined
$0.0050 to close at $1.6600, while blocks increased $0.0175 to close at
$1.8850. Barrel prices have declined in each of the last 7 trading
sessions for a total cumulative decline of $0.1100. Block prices have
increased a total of $0.0250 in the last 2 trading sessions. Weekly
average prices for barrels and blocks declined last week and lowered
wholesale prices for cheddar blocks and Muenster by $0.0125. Process 5#
sliced cheese decreased $0.0375. Wholesale prices for Swiss cuts were
unchanged. Domestic demand for cheese is relatively good, but production
and supplies quickly outpace demand and, as a result, inventories
continue to increase. Export interest for cheese remains good, which
assists in the movement of blocks more so than barrels and partially
explains the wide discrepancy, in price, between barrels and blocks.
According to the National Dairy Retail Report, retail cheese ads for 8
oz. block cheese in the Northeast totaled 2,238, 40% of the total
national ad count of 5,565 and was the highest ad count for any region.
Retail cheese ads for 8 oz. shredded cheese in the Northeast totaled
2,433, 29% of the total national ad count of 8,423, and was the highest
ad count for any region. The weighted average price for 8 oz. cheese
blocks in the Northeast was $2.52, 8 cents higher than the national
weighted average price and 20 cents higher than the previous reporting
period. The weighted average price for 8 oz. shredded cheese in the
Northeast was $2.54, 27 cents more than the national weighted average
price and 8 cents higher than the previous reporting period.
Cooperatives Working Together (CWT) has accepted requests for export
assistance to sell 925,942 pounds (420 metric tons) of Cheddar cheese.
The product will be delivered May through October 2013. During 2013, CWT
has assisted member cooperatives in making export sales of cheese
totaling 50.982 million pounds.
WHOLESALE SELLING PRICES: DELIVERED,
DOLLARS PER POUND (1000 - 5000 POUNDS MIXED LOTS)
Cheddar 40# Block : 2.2650-2.5500
Process 5# Sliced : 1.9475-2.4275
Muenster : 2.2850-2.6450
Grade A Swiss Cuts 10 - 14# : 3.4300-3.7525