Probably most people have noticed the price of block Cheddar is rising at the Chicago Mercantile Exchange on bids. Jerome Cheese, which makes cheese,seems to have disappeared.
So, now we seem to have a situation where another manufacturer of cheese, Mullins, appears to be bidding for cheese.
My guess is that if there are two theories about what this all means, they are probably both wrong.
The average world price for Cheddar is still at $1.79 per pound. one thing about world prices is the value of the dollar compared to other currencies. since, the U. S. dollar is falling world prices will probably stay high. But, who knows?
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Maybe Jerome didn't like the attention they were getting, and maybe Mullins likes the higher prices?
ReplyDeleteI am now a believer in a conspiracy to put milk production in the hands of a powerful few .ten years ago i was told to compete globally or get out!Now i cant even receive the global price.
ReplyDeleteYesterday cheese went to $1.60 on no sales. I find it amazing that the CME trades less than one percent of all the cheese processed in this country and that's what the milk price is predicated on. This whole time that the price has been rising there have been very few trades, but when the price gets too high along come the dumpers to drive it back down. I think you and Pete have brought more attention to these dumper manipulators and they're laying low. Thank you.
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