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Cheese market ripe for manipulation, feds say
July 5, 2007
Salt Lake Tribune: Thin trading on the spot cheese market makes it vulnerable for manipulation, which could affect the price of milk and other dairy products, according to the Government Accountability Office. Less than 2 percent of all cheddar cheese made in the United States is traded at the Chicago Mercantile Exchange, among only 30 participants.
The price of block cheddar cheese reached $1.95 a pound Thursday on the CME, up 67 percent from $1.17 a pound a year ago.
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