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
Analysts warn the closed U.S.-Mexico border is straining cattle supplies and packing capacity. StoneX and USDA data point to long-term industry shifts.
USDA’s 2026 Food Price Outlook projects food prices rising 3.1%, with higher beef costs and falling egg prices shaping consumer trends.
High beef prices are squeezing South Texas restaurants, but Texas Farm Bureau says consumer demand remains strong despite record costs.
Land equity protects solvency but does not replace profitability.
Reliable canal infrastructure supports long-term access to global agricultural markets.
Corn export pace remains the bright spot, but stable ethanol export demand remains a critical support for corn markets.