Cheese - Midwest
USDA - Wed Mar 07, 1:14PM CST

     Cheese - Midwestern U.S.

     Report 10 - Released on March 07, 2018

     Spot milk into Midwestern cheese plants is wholly discounted. Reported milk loads ranged
     from $2 to $3 under, although there were reports of situational offers as low as $5 under
     Class. Hauling woes, whether systemic or weather related, continue to plague a number of
     cheese producers in the region and veritably across the nation. Milk shipments were delayed
     early in the week, while mozzarella and provolone producers, currently reporting steady
     demand, are concerned about multiple winter storms affecting orders made by Eastern region
     customers. Hard Italian orders are trending up, while barrel producers report demand as
     middling. The cheese markets are exhibiting bullish traits. Nevertheless, cheese contacts
     have seen positive, short term signs in the recent past, only to be beguiled by the somewhat
     delusive cheese markets.

     The DMN National Retail Report-Dairy shows that March 2-8 Midwest ads for 8 ounce shred
     cheese have a weighted average advertised price of $2.09, 11 cents below the national
     average. Midwest prices range from $1.28-$2.50. One year ago, the national price was $2.21.
     For 8 ounce blocks, the Midwest average price is $2.02, 25 cents below the national average
     price. Midwest ads are priced from $1.28-$2.50. Last year, the national price was $2.15.

     Blue 5 pounds                       2.1650-3.1525
     Cheddar 40 pound Block              1.6250-2.0200
     Monterey Jack 10 pounds             1.8725-2.0775
     Mozzarella 5-6 pounds               1.6975-2.6375
     Muenster 5 pounds                   1.8975-2.3225
     Process American 5 pound Loaf       1.5625-1.9225
     Swiss 6-9 pound Cuts                2.6800-2.7975

     Information for the period March 5 - 9, 2018, issued weekly

     Secondary Sourced Information:

     The CME Group February 2018 monthly average price for barrels, $1.4096, is up from the
     January average of $1.3345, but down from the monthly average of a year ago, $1.6230.
     Blocks´┐Ż February average price, $1.5157, is up from the $1.4938 January monthly average, but
     down from $1.6199 one year ago.

     Midwestern wholesale prices are down $.1600 for Swiss cuts, down $.0075 for process, but up
     $.0050 for all other types.

     In CME trading Wednesday, barrels closed at $1.5100, up $.0400 from last Wednesday, and
     blocks closed at $1.5600, up $.0300.

     Dairy Products (NASS) reports total U.S. cheese production, for January 2018, was 1.081
     billion pounds, 1.0 percent below December 2017. Central total cheese production for January
     2018 was 489.5 million pounds, 1.7 percent lower than December.

     For total cheese and various types of cheese, January 2018 U.S. and Central cheese
     production percentage changes compared to January 2017 were as follows:

     Jan Production 2018 vs 2017                  U.S.     Central
     Total                                      + 3.4%    + 4.2%
     American                                   + 2.7%    + 3.1%
     Cheddar                                   + 0.3%    + 2.7%
     Total Italian                             + 3.4%    + 4.5%
     Mozzarella                                + 3.1%    + 5.0%

     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     AL YANG, 608-422-8598

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: 608-422-8602
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