LOUISVILLE, Ky. — Block prices are on the rise again.
Since Aug. 12, when the price of 40-pound cheddar blocks was $1.36 per pound, costs have moved up nearly 24 cents to close at more than $1.59 during Sept. 15 trading. About a dime of that gain came over the past several trading sessions.
Dairy analysts regard the market's move as typical for the season, and none expects a huge price run-up since milk supplies remain strong. Additionally, some restaurant analysts believe demand for cheese might soften slightly as consumers spend increasing amounts on gas and less on eating out.
Should history repeat itself, cheese prices will decline gradually beginning in October or November. Some analysts predict block prices may bottom out in the mid-$1.30s by December.
Read more in our Cheese Market Analysis Research Center.