LYNDEN, Wash.--An anticipated cheese shortage--expected to occur months from now--has arrived early, driving block prices to $1.93 on March 16.
Market analyst Jerry Dryer told Dairyline.com that cheese makers can't fill orders because "There just isn't enough milk and people are getting desperate for cheese."
In March 16 trading on the Chicago Mercantile Exchange, three bids for block cheese were offered, but none was sold.
Price increases in February, Dryer said, were driven in anticipation of tight cheese supplies, but "Now it's because there is a shortage, so it looks like we're going to see $1.80-plus cheese for at least three or four months."
Dryer, editor of Dairy & Food Market Analyst newsletter, (for a free copy, call 800-243-7037) recently told PizzaMarketplace that block cheese would exceed $2 in the very near term. (To learn more, see Pizza profits to get a pounding as cheese price may exceed $2).
For more information, visit our Cheese Research Center.