On the other hand, here is the price data for Cheddar in Oceania, courtesy of Dairy Market News:
MD_DA128
DA
MD DA128 Cheddar Cheese - Oceania
MADISON, WI. April 15, 2010 (REPORT 15)
OCEANIA
INFORMATION GATHERED 04/05/2010 - 04/16/2010
U.S. DOLLARS PER METRIC TON, FOB PORT
CHEDDAR CHEESE: Oceania cheese markets are generally steady with prices
unchanged to higher. Recent strength in most manufactured dairy product markets
is giving strength to the cheese market. Milk production is trending lower
seasonally with New Zealand's output sharply lower. This is causing milk
handlers to direct available milk volumes to products of most need or best
return.
39% MAXIMUM MOISTURE: 3,800 - 4,100
If you average the data, the prices translates to $1.79 per pound. The value in DMN report $3800-4100 is per metric ton (2204.6 pounds)
Do you remeber when we went off the ol M-W price and they said the CME would be better because it would reflect the world price for milk? I think we got suckered!!
ReplyDeleteBut don't worry "they" can't controll everything. This will come back an bite them hard. Hope I'm around to see it. JR
Cheese down another penney and a half today on no sales and an offer of $1.3975. Who says they can't control everything?
ReplyDeleteDoes the Jerome price game remind anyone of other manipulations recently uncovered at CME? Why do they offer to sell at these reduced prices when the market says there's more money available except MAYBE to drive the milk price down and build the inventory with cheap milk.
ReplyDelete