The April Class III milk futures contract drew strength today from the cash cheese market to close the day at $17.35. This is $4.26 more than the historical high milk price paid in the month of April since 1988.
At the close of trading today on the Chicago Mercantile Exchange, cash prices for block and barrel cheese stood at $1.9350 and $1.910, respectively. And according to an article on Pizzamarketplace.com, cheese prices could break the $2 mark and stay there for a few months.
For more details from Pizzamarketplace.com, go to: http://www.pizzamarketplace.com/news_story.htm?i=18609
CME , Pizzamarketplace.com