Daily Reports

Spot cheese showed gains Monday on CME

Class III futures pushed higher once again as total trading volume increased to 974 contracts. After overnight strength, when the spot session traded higher on both blocks and barrels, the bull run was kept fully intact. FULL STORY »

Block cheese unchanged at $1.625 on CME

The dairy market is looking well supported, some nervousness but people talking about $1.60 per pound cheese as “reasonable” and “cheap” is certainly supportive ― especially when there was a time when $1.60 cheese was the end of the world as we knew it. FULL STORY »

First day of summer brings cooler temps, markets mixed

It was a monotonous day of trading for Class III futures, as volume clocked in at just 548 contracts leaving the prices to finish mixed Thursday. Class III has seemingly run out of steam to the upside lately, despite the fact that both spot block and barrel prices rose again yesterday. FULL STORY »

Futures underpinned by spot strength and weather

The above-average temperatures experienced in much of the U.S. over the last couple weeks has helped to strengthen the case of market bulls, made evident by the June rally we’ve seen. The Class III futures look to be running out of steam, though, and a correction in prices could be just ahead. FULL STORY »

Declines in milk production priced into futures

It was an interesting Class III session yesterday as prices traded mixed but mostly higher throughout the day after strong overnight gains were seen in the fourth quarter. FULL STORY »

Block cheese unchanged at $1.615 on CME

It was a quiet open to the week for Class III futures, as volume was light early in the day. The spot market opened and closed unchanged.. FULL STORY »

Block cheese closes down 3 cents on CME

While Friday’s spot session narrowed the gap between blocks and barrels to just 4.25 cents, closer to the historical norm for the spread and helped add to the overall weakness of the Class III. FULL STORY »

Volatile spot cheese trade ends lower, futures decline

The block cheese price dropped steadily throughout a full session to 5.5 cents lower. Barrels were bid up 4.5 cents to $1.60 mid-session and fell back towards unchanged on aggressive offers, finishing 0.75 cents higher by the final call. FULL STORY »

Futures rally continues Tuesday, spot firm

The spot session, which seems to be even more highly anticipated, if that is possible, opened with a bid in the barrels and every effort was made to push the block barrel spread back into line. But, as the barrels increased, so did the blocks. FULL STORY »

Fourth-quarter Class III gets late-day boost Monday

Is this the beginning of the ascent to $20 or is this the end of what has amounted to a 10 to 15 percent increase in Class III prices in just a month’s time? Given the larger supply/demand fundamentals, the fact that such buying was relegated to Class III only and the quickness with which such buying occurred, it is likely more of a final push before some period of downward price correction. FULL STORY »

Class III/cheese futures shrug off spot declines Friday

Class III volume increased Friday to a total of 1,377 contracts, with another build in the open interest. The increasing open interest lends credence to the theory that a bullish trend could be developing in the Class III markets, despite the drop of 3 ½ cents in the block market which brought the blocks/barrels spread back beneath 10 cents. FULL STORY »

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