Weekly Market Reports
Dairy Report for the week of December 19, 2008
The CME cheese markets are moving lower. Holiday cheese buying should culminate soon. Further, the CME spot block market is carrying a $.25 a pound premium to the international butter market. These factors may lead to declines in US cheese prices over the next few weeks. Class III milk futures suggest that the CME cheese markets could be in the low $1.50?s by next month. The butter market is tracking downward. The butter market has not traded notably below $1.20 in 28 months.
