MD_DA851

     Cheese Highlights

     Report 45 - Released on November 9, 2018

     Milk intakes into cheese production vary by region: from low in the Midwest, steady/lower in
     the East to plentiful in the West. Midwestern cheese plant managers reported spot milk
     prices at $1 to $2 over Class, as a number of them are holding back on spot milk until
     expected post-Thanksgiving discounts. As milk availability increases in the coastal regions,
     inventories are expected to grow. Cheese demand is mixed. Cut and wrap orders are going
     fairly strong during the holiday shopping season. Western contacts relay that exports have
     yet to meet expectations. Cheese markets are undoubtedly struggling. One bullish note is the
     CME block and barrel price gap has contacted. However, this week saw bearish tones overwhelm
     any bulls, as CME block prices met their lowest point since March 2017. Friday on the CME,
     barrels closed at $1.3050, compared to $1.3400 last week. Blocks closed at $1.3800, compared
     to $1.4575 last week.

     Information for the period November 5 - 9, 2018, issued weekly

     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@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