LOUISVILLE, Ky. — A strong flow of milk from the nation's dairy lands continues to put pressure on cheese prices.
Prices for 40-pound blocks were rock steady at $1.36 from Jan. 9-13, but analyst Jerry Dryer predicts prices could slip more than a nickel in the coming days.
"There is growing sentiment that the cheese price will move at least five cents lower in the not-too-distant future," Dryer wrote in the Jan. 13 issue of his newsletter, Dairy & Food Market Analyst. Sources told him cheese orders were about average in early January, but that they "totally evaporated this week."
Last year at this time, blocks sold for $1.63.
Read more in our Cheese Market Analysis Research Center.