News

Cheese prices may fall more, but quick rebound likely

June 29, 2004

LYNDEN, Wash.—At least one dairy analyst believes block cheese prices may fall some more before rebounding sooner than later.

According to a Dairyline.com report, analyst Mary Ledman, principal of Keough-Ledman Associates, said the market is still correcting itself, and that offers for block cheese left unsold at the Chicago Mercantile Exchange indicate some additional price cuts.

However, given the timing of the price drop—as summer's hottest temperatures set in and cows produce less milk—she expects supplies to tighten and send prices moving to as high as $1.65 by August or September.

Read related articles in our Cheese Market Analysis Research Center.