MD_DA851
DA
MD DA851 CHEESE HIGHLIGHTS 

AUGUST 22, 2008   MADISON, WI (REPORT 34)

CHEESE HIGHLIGHTS  

The cheese market is unsettled and sizeable current cheddar 
offerings continue to add pressure to the CME Group cash cheese 
market.  Many buyers are taking advantage of prices around 60 
cents below the 2008 peak to restock at current prices.  
Generally private label movement is much better than branded.  As 
more schools reopen for the new school year, more milk is being 
taken away from cheese production, tightening current supplies.  
According to FAS, quota imports of cheese for the first seven 
months of 2008 total 98.2 million pounds, down 27% from the same 
period in 2007.  Imports stand at 33% of the annual quota.  
Imports of High-Tier cheese (above quota and with a penalty) for 
the January-July period total 20.7 million pounds, down 18% from 
last year.  The Kansas City Commodity Office announced MCD6-010 
seeking between 17.7 and 74.4 million pounds of mozzarella for 
January 1 - December 31, 2009 delivery.  Offers are due September 
10.  


1200C  George.Koerner@usda.gov  608.250.3205