MD_DA851

     Cheese Highlights

     Report 25 - Released on June 22, 2018

     The gap widened between cheese blocks and barrels on the CME, causing concerns among
     contacts amidst international trade disputes. Some market observers suggest that the
     downshift in production to prevent surplus, in addition to slow demand and plenty of barrels
     on the CME, created the wide price gap. Cheese production around the nation is mixed,
     varying from plant to plant. Cheese producers are more apprehensive on taking any extra
     milk. Spot milk loads remain abundant, and spot prices ranges from $3 to $4 under Class.
     Cheese demand domestically is mixed, and buyers are in no hurry to fill inventories due to
     many cheese offers. Cheese inventories are mixed by variety, with Italian cheeses and
     barrels being the longest. The cheese market tone is uncertain.

     Information for the period June 18 - 22, 2018, issued weekly

     Secondary Sourced Information:

     The CME Group closing price for barrels is $1.2850, compared to last Friday¶s closing price
     of $1.4500. The closing price for blocks is $1.4900, compared to last Friday¶s closing
     price of $1.5950.

     Published by:
     Dairy Market News - Madison, WI
     ALISON YANG, 605-422-8598
     Email: Al.Yang@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home