USDA’s Cold Storage report has total cheese inventories at 1.466 billion pounds as of March 31, up 30 million pounds from the end of February. This is twice the average five-year build up of 16.3 billion pounds which is typical for February to March. Butter inventories were unchanged at 354.6 million pounds, which is also unusual. Typically, butter stocks rise an average of 10.5 million pounds from February to March. Read More
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