MD_DA810 DA MD DA810 Cheese - Northeast MADISON, WI. February 24, 2016 (REPORT 8) NORTHEAST WHOLESALE CHEESE: Last week, fluctuating cheese prices at the CME Group increased the weekly average price for blocks, but the barrel average price went unchanged. As a result, this week wholesale prices for cheddar and Muenster are steady. The process 5# cheese price saw an increase of $0.0075. Grade A Swiss cuts remained steady. Tuesday's CME Group daily cash prices saw barrels close at $1.4375, down $0.0225 from a week ago; blocks closed at $1.4550, down $0.0350 from a week ago. Cheese is being manufactured at a high rate in the East, as milk intake volumes drive 7 day production schedules. Good pre-holiday orders are relieving the inventory concerns of some manufacturers. However, there is some uneasiness about supply/demand levels in a post-holiday cheese market. The market undertone is unsettled. According to the DMN National Retail Report-Dairy, for February 19- 25, 2016, the Northeast weighted average advertised price for 8 oz. cheese blocks was $2.30, 2 cents less than the national average, but 11 cents more than the previous week. The Southeast 8 oz. block cheese price was $2.43, 22 cents more than the previous week. COLD STORAGE: According to NASS, U.S. stocks of total natural cheese as of January 31, 2015 totaled 1.178 billion pounds, 12% more than a year ago and 3% more than the previous month. Swiss cheese totaled 24.3 million pounds, 8% more than a year ago, but 1% less last month. WHOLESALE SELLING PRICES: DELIVERED, DOLLARS PER POUND (1000 - 5000 POUNDS MIXED LOTS) Cheddar 40# Block : 1.9025-2.1875 Process 5# Sliced : 1.6675-2.1475 Muenster : 1.9225-2.2725 Grade A Swiss Cuts 10 - 14# : 3.1525-3.4750 1100CT Daniel.Johnson@ams.usda.gov 608.557.7006 USDA/AMS/Dairy Market News, Madison, Wisconsin Dairy Market News website: http://www.ams.usda.gov/market-news/dairy Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home