News

Cheese prices tumble for second day in a row

March 16, 2005

LOUISVILLE, Ky. — Cheese market prices were volatile again as March 4 trading on the Chicago Mercantile Exchange saw cheddar blocks fall sharply for the second consecutive session.

After blocks plummeted more than 14 cents on March 3, prices slipped another 10 cents to trade at $1.45 per pound. When the session ended, five loads (40,000 pounds each) had switched hands, and two offers remained on the board.

Barrels were bid down to $1.42, though no trades were made. A single offer was left on the board, which, in addition to the two left remaining for blocks, could signal further declines once trading resumes on March 7.

Only four trading sessions ago, cheddar blocks surged 12 cents to trade at $1.70, a nickel below the 2005 high.

Read more in our Cheese Market Analysis Research Center.