June 9, 2020: Dairy Week In Review

Spot cheese prices are up dramatically over the past four weeks, with the Cheddar block price closing on June 9 at $2.58 per pound. That is up $1.28 from a month ago. The increase in cheese  prices is driving up Class III milk futures prices, as well, with the June price closing at $20.56 per cwt. Increasing retail sales, with food service institutions and restaurants opening, along with the USDA’s Farmers to Families Food Box Program, are driving up demand for cheese. Analysts warn though that uncertainty still exists, with concerns that the forecasted demand may not  materialize. Read More