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
Escalating U.S.–China tensions threaten soybean demand as farm finances are stretched further.
The news immediately caused a drop in equities and commodities, with soybeans down 20 percent in a matter of minutes.
Expect a steady corn grind and selective basis strength where exports and local blending stay active.
Expect business-as-usual for most container exports.
Considering raising your own replacements instead of buying bred heifers? Three key factors to consider before investing capital.
Iowa land values dropped 3% year-over-year. Sen. Chuck Grassley said this discomforting pattern is a harbinger of crisis for farmers, as seen in the 1980s.