NorthEast Cheese

2/28/2013 3:00 PM

MD DA810 Cheese - Northeast
MADISON, WI. February 27, 2013 (REPORT 9)

Cheese prices declined on the CME Group Tuesday with barrels down $0.0200
to close at $1.5800, while blocks declined $0.0050 to close at $1.6025.
Barrel prices have declined in each of the last 2 trading sessions,
resulting in a net decline of $0.0500. Block prices have declined in
each of the last 6 sessions for a total net decline of $0.0725. Milk
production remains strong in the Northeast with significant volumes going
to cheese vats. Current production is exceeding demand needs and adding
to inventories. Demand is sluggish with the exception of mozzarella
sales, which have been good following promotions by some national pizza
makers. Export demand remains fairly good supported by incentive
programs. Cooperatives Working Together (CWT) has accepted requests for
export assistance to sell 1.122 million pounds of Cheddar and Gouda
cheese. The product will be delivered February through July 2013. The
latest NASS Cold Storage report shows stocks of natural cheese in cold
storage as of January 31, 2013 totaled 1,032.3 million pounds, up 1%
compared to one month ago and from one year ago. A majority of the
holdings are in the form of American cheese (62.3%) totaling 643.5
million pounds, up 1% from one month ago and slightly higher than one
year ago. The next highest natural cheese holdings in cold storage are in
the form of Other Natural Cheese, (34.7%) totaling 358.2 million pounds,
1% more than one month ago and 2% more compared to one year ago. Swiss
cheese accounts for 3.0% of holdings at 30.6 million pounds, down 4% from
one month ago, but 18% more than one year ago.

Cheddar 40# Block : 2.0425-2.3275
Process 5# Sliced : 1.8500-2.3300
Muenster : 2.0625-2.4225
Grade A Swiss Cuts 10 - 14# : 3.5900-3.9125

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