Cold Storage data was released by USDA today: http://usda.mannlib.cornell.edu/usda/current/ColdStor/ColdStor-12-22-2009.pdf
American cheese storage was up 11% from November 2008.
If you go to: http://usda.mannlib.cornell.edu/usda/current/DairProd/DairProd-12-04-2009.pdf
The USDA "Dairy Products" report states only 1.2% more American cheese was made in October.
I really wish someone in a position of authority would think.
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If sales of processed American cheese fell in that time period wouldn't the lower sales cause more to be in storage?
ReplyDeleteSo does that mean demand is way down driving up inventories?
ReplyDeleteCold storage figures are IMHO the most meaningless figures USDA keeps track of. Think about what was happening last year. The price was falling so processors were going to face losses if they held on to any products thus sell down of inventories. This year, prices are rising so processors will make money on inventories. (esp good to cook the books at the end of the year)
ReplyDeleteThe processors have little reason to sell!
Steve Barton