Cheese - Midwest

     Cheese - Midwestern U.S.

     Report 7 - Released on February 14, 2018

     Midwest cheese makers are reporting some positive trends in cheese demand. Barrel sellers
     have reported that inventories are limited, and buyers searching for loads produced as
     recently as early 2018 are out of luck. Cheddar demand, along with cheddar inventories, vary
     from plant to plant. Spot milk into cheese production was widely available, as it has been
     most of the year. Spot milk prices ranged from flat to $3 under Class III. Some milk
     suppliers were lighter on spots this week, but others appear to be filling in the gaps for
     cheese plant managers. Cheese production is steady to fully active, and with the exception
     of plant updates or maintenance, some plant managers plan to run seven days a week for the
     near future. The cheese markets are generally steady, and some are questioning whether the
     large block to barrel CME price gap is the new normal. Still, other Midwestern cheese
     contacts question the direction the markets will take in order to regain what was once the
     status quo.

     The DMN National Retail Report-Dairy shows that February 9-15 Midwest ads for 8 ounce shred
     cheese have a weighted average advertised price of $1.98, 18 cents below the national
     average. Midwest prices range from $1.49-$2.50. One year ago, the national price was $2.36.
     For 8 ounce blocks, the Midwest average price is $1.87, 23 cents below the national average
     price. Midwest ads are priced from $1.49-$2.00. Last year, the national price was $2.26.

     In CME Group trading Wednesday, barrels closed at $1.3900, up $.0400 from last Wednesday and
     blocks closed at $1.5100, down $.0100 from last Wednesday.

     Midwestern wholesale prices are unchanged for Swiss cuts, up $.0375 for process and up
     $.0525 for all other types.

     Blue 5 pounds                       2.1475-3.1350
     Cheddar 40 pound Block              1.6075-2.0525
     Monterey Jack 10 pounds             1.8550-2.0600
     Mozzarella 5-6 pounds               1.6800-2.6200
     Muenster 5 pounds                   1.8800-2.3050
     Process American 5 pound Loaf       1.4500-1.8100
     Swiss 6-9 pound Cuts                2.8400-2.9575

     Information for the period February 12 - 16, 2018, issued weekly

     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: 608-422-8602
     DMN Website:
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