MD_DA851

     Cheese Highlights

     Report 38 - Released on September 20, 2019

     Cheese market tones are quavering after reaching recent year highs late last week and early
     into this one. Contacts have been questioning a potential market correction and have asked
     how emphatic it would be. A drop of nearly $.20 on blocks and nearly $.30 on barrels in a
     span of three days answered their question. According to Western contacts, customers are
     pushing back at the higher prices. Generally, cheese production remains active, although
     milk availability was somewhat tight in the Midwest. Contacts reported spot milk prices from
     $.25 to $1.50 over Class. They say offers of spot milk were noticeably quiet. Cheddar blocks
     are tighter in the Western region. As is the norm, cheese stocks vary from region to region
     and plant to plant. Western contacts point out that blocks are tighter, hence the late
     summer runup of market prices.

     Information for the period September 16 - 20, 2019, issued weekly

     Secondary Sourced Information:

     Friday¶s closing price for CME barrels is $1.6550, compared to $1.9200 last week. CME
     blocks¶ closing price is $2.0500, compared to $2.2050 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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov