Cheese prices continued to firm heading into the weekend. Blocks climbed above the $1.70 mark for the first time in a month, capping off a week of consistent activity and strength building day by day. Nearby Class III futures followed higher, with September up more than 40 cents compared to Wednesday’s low. But, 2026 futures didn’t fare as well, with January – June contracts slipping six cents to $17.78 per hundredweight, the lowest level since April.
Today’s Highlights from Ever.Ag’s Know Your Markets
- CME cheese markets jumped back over the $1.70-per-pound mark. Spot blocks closed at $1.7050 per pound, $0.0225 higher, while barrels gained three cents to settle at $1.7100 per pound. Nine lots of blocks and five of barrels changed hands. The CME butter market slipped to $2.4450 per pound, losing $0.0275, with two loads trading. Spot dry whey climbed to $0.5500 per pound, adding $0.0175, with five lots exchanged.
- Futures were relatively quiet today. The September Class III contract rose 14 cents to $17.74 per hundredweight. There wasn’t much movement in “all cheese” contracts, with September ticking up to $1.8240 per pound, gaining $0.0090.
- The US job market showed signs of weakness in the latest Labor Department report. Employers added 73,000 new jobs in July, far below expectations. The Labor Department also cut May and June payroll numbers by a combined 258,000 jobs. The unemployment rate ticked up to 4.2% from 4.1% in June.
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