A tightening cheese supply is sending prices higher globally.
This month cheddar block prices reached $2.27 per pound. Cobank says that is the highest price in 27 months.
Class III Milk futures are also on the rise, with the bundle average reaching $22.90 in the week following Labor Day. While higher prices moving into the fall is great, traders do not believe they will hang around for long.
CME has the four-month average for January to April 2025 Class III features at just $19.80.
Related Stories
North Dakota State University’s Dr. Shawn Arita joins us to break down new research on U.S. ag export losses tied to retaliatory tariffs and what they signal for trade moving forward.
NPPC President Rob Brenneman says rising fuel and input costs are creating pressure across pork production despite steady trade.
Soybean oil is already feeling the pressure.
ISA says Southeast Asia continues driving demand for soy-based feed products through expanding livestock and seafood industries.
Several counties are reviewing disaster declarations. Crop insurance may help growers cover some costs.
Mexico’s demand for U.S. corn, soybeans, and wheat remained mostly steady during the first quarter, despite higher transportation costs.