THE LAND — APRIL 29/MAY 6, 2022
PAGE 11
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Cheddar, butter prices drop after five weeks of gain This column was written in some plants, which pushfor the marketing week endes more milk to others. ing April 29. Cheddar inventories are balanced to available, while U.S. butter stocks grew in other varietal cheesemakers March but remained well say their stores are balanced below a year ago. The U.S. to tight. Demand notes are Department of Agriculture’s and have been strong, says latest Cold Storage report Dairy Market News. shows the March 31 invenMIELKE MARKET tory at 283.1 million pounds. Strong demand for cheese WEEKLY This is up 20.1 million is present in both western pounds or 7.6 percent from By Lee Mielke domestic and international February; but were a markets, though previhefty 72.7 million ously mentioned Asian pounds or 20.4 percent buying slipped lower below those a year ago, this week. Like a brothe sixth consecutive month butter ken record, port congestion and the stocks were below the previous year. shortage of truck drivers continues to cause delays to cheese deliveries American-type cheese stocks fell to throughout the region. Inventories are 822.2 million pounds, down 9 million growing. Milk is available, allowing pounds or 1.1 percent from the plants to run busy schedules but ongoFebruary level, which was revised ing labor shortages and delayed delivdown 2.3 million pounds, and were down 12.2 million or 1.5 percent below eries of supplies are keeping output below capacity. a year ago. n The “other” category inched up to 612.8 million pounds, up just 2.2 milCash butter fell to $2.615 per pound lion or 0.4 percent from February, but on April 27 (the lowest Chicago were 900,000 pounds or 0.1 percent Mercantile Exchange price since Feb. above a year ago. 25). The price reversed direction the next day (the first gain in six sessions) The total cheese inventory stood at 1.458 billion pounds, down 8.9 million and closed April 29 at $2.675. This is up 7.5 cents on the week, 3.5 cents pounds or 0.6 percent from February, but 10.9 million or 0.7 percent above a lower on the month, but still 92.25 cents above a year ago. There were nine year ago. loads of butter sold on the week and 57 Dairy prices were mixed the last for the month, down from 99 in March. week of April. The cheddar blocks Cream is reportedly available for closed on April 29 at $2.37 per pound. butter producers both within the This is down 2.25 cents on the week, Central region and from the West, ending five consecutive weeks of gain, but 7.5 cents above where they were on according to Dairy Market News. Bulk April 1, and 57 cents above a year ago. butter remains tight and at a premium. Contacts have mixed views The barrels finished the month at regarding late summer and fall inven$2.34, 3 cents lower on the week but tories. Domestic demand is steadily 8.75 cents above their April 1 perch, hearty week over week and global 50.5 cents above a year ago, and 3 inquiries are not expected to ebb in cents below the blocks. the near term; so many expect butter Sales totaled three cars of block for stores to be short. And, while market the week and 33 for the month of April, prices have fallen, marketers do not down from 38 in March. Barrel sales view the big picture as bearish, says totaled 12 for the week and 75 for the Dairy Market News. “Globally short month, down from 108 in March. milkfat, continued domestic food service strengths, and worker-supply Milk is readily available for cheese production in the Midwest, according to chain shortages at the plant level are Dairy Market News, but staffing short- inimical to bears.” handedness is keeping a lid on output See MIELKE, pg. 16
MARKETING
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