U.S. Cheese Prices Diverged in CME Cash Trading
Trading at CME Group’s Chicago cheese market produced different results for the two quoted products on September 24. Barrels settled at $1.4525 per pound, the same level as in the preceding session. Forty-pound blocks ended at $1.3275 per pound, a decrease of $0.0300 per pound.
The prices were issued by the USDA Agricultural Marketing Service through Dairy Market News. The data appeared as Report 39 in the series covering CME Group cash cheese trading. The report recorded closing values and session-to-session changes, but did not include information about the companies or traders involved.
The session used a carlot basis. Each quoted unit represented approximately 40,000 to 44,000 pounds, and all prices were stated in U.S. dollars per pound. The barrel quotation carried no change from the previous close, while the block quotation reflected the reported decline.
The report contained no transaction-volume figures or count of completed trades. It also provided no commentary on market conditions and no forward-looking guidance. As a result, its listed data covered the direction and level of the two prices for that session rather than other measures of activity.
Cheese prices are monitored by processors, manufacturers, traders and other participants in the dairy supply chain. The U.S. market is also part of international dairy trade, with domestic production and price movements observed by buyers and sellers operating across borders. Cheese products traded or consumed in wider markets include varieties made from cow, buffalo, sheep and goat milk, as well as whey and processed cheese.
Demand across the broader cheese market is associated with household consumption, foodservice, processing needs and international trade. Companies active in global dairy and cheese markets include Lactalis, Dairy Farmers of America, Fonterra, Arla Foods, Savencia Fromage & Dairy, Saputo, FrieslandCampina, Groupe Bel, Glanbia and Leprino Foods, alongside regional cooperatives and specialist producers. The September 24 CME figures distinguished the two reported product categories: barrels retained their prior value, while 40-pound blocks recorded the lower closing price.
