News

Record rise continues as block cheese squeaks beyond $2 mark

March 18, 2004

The price for block cheese traded on the Chicago Mercantile Exchange continued its roll across the record books when it crossed the $2-per-pound mark on March 19.

The two bids made for blocks yielded no sales and provided further proof that a definite cheese shortage is at hand. Today's session marked the 13th of 15 trading days this month without a block trade.

The last bid placed at the exchange was $2.005, up three cents from March 17. This month alone, block prices have risen 54 cents; a year ago prices were 92 cents lower.

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