2017 December Board Book

International Update

“EU milk production is rebounding. Milk supplies increased by 2% year-over-year in July and early indications point toward continued expansion in the third quarter. Despite production struggles early in the year, output year-to-date through July was running 0.1% above 2016. That’s about 565 million pounds more - equal to about one- month worth of production in Washington. (Blimling, Oct 2017)

The US cheese market is stuck in a range, trekking between $1.50 and $1.75 since the beginning of May. Every time the market sinks toward the bottom end, order ows— particularly for non-cheddar varieties—pick up and prices rise. As prices move to the top end, the opposite happens, with customers cutting back orders. Will holiday season demand be enough to break the pattern?

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