News

Cheese prices slip 8 cents on the CME

April 21, 2005

LOUISVILLE, Ky. — Block cheddar prices dropped 8 cents in April 22 trading on the Chicago Mercantile Exchange. For the week, blocks slipped a total of 10 cents to trade at $1.46 per pound.

One year ago, blocks traded at a record high of $2.20.

Some market indicators point to further price drops. One offer for blocks and three offers for 500-pound barrels were left on the board, signaling some potential excess supply. Market watchers don't believe an all-out crash is forthcoming, however, as nationwide supply and demand appear relatively balanced.