MD_DA851

     Cheese Highlights

     Report 20 - Released on May 17, 2019

     Cheese demand has slumped in the Midwest, whereas, in the coastal regions, ordering is
     steady to strong. Midwestern cheesemakers, across the varietal spectrum, have relayed a
     slower week, and some expect a lull for the remainder of the month. Midwestern spot milk
     availability has remained somewhat steady, ranging $2 under to $2 over Class. Current spot
     milk discounts far from where they were last year or in 2017, when rebates reached $4.50 and
     $6 under Class during week 20, respectively. Western cheese inventories remain long, while
     the rest of the country is a little more balanced. Cheese market prices saw a negative
     correction from last week¶s $1.70+ prices, as both barrel and block prices slipped on back
     into the low and mid $1.60s, respectively. That said, contacts relay the bullish momentum is
     not lost, and the correction may spur on more near term purchases.

     Information for the period May 13 - 17, 2019, issued weekly

     Secondary Sourced Information:

     Friday¶s closing price for CME barrels is $1.6250, compared to $1.7100 last week. CME
     blocks¶ closing price is $1.6725, compared to 1.6800 last Friday.

     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home