News

Cheese prices sliding, may slip further

November 6, 2005

LOUISVILLE, Ky. — Over the course of the past two weeks, prices for block cheddar traded at the Chicago Mercantile Exchange dropped nearly a dime before leveling off at $1.37 per pound on Nov. 4.

In the most recent edition of Dairy & Food Market Analyst newsletter, editor Jerry Dryer predicted prices will at least remain steady for the long run.

"From what I'm hearing and seeing, I don't think there is any price spike coming this fall," wrote Dryer, referring to a common late-year increase driven by holiday season demand for cheese. "In fact, there could be further price declines."

Dryer and other dairy analysts cite strong supplies and softening demand for recent price declines.

Read more in our Cheese Market Analysis Research Center.