CME: Cheese Commercial Disappearance Now Higher

US - According to USDA’s Economic Research Service (ERS) commercial disappearance of American cheese and other-than-American cheese were up in January 2012 vs. the prior year, in Wednesday's dairy report.
calendar icon 29 March 2012
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At 371.6 million lbs. American cheese commercial disappearance was up 17.6 million lbs. from January 2011. Other-than-American cheese commercial disappearance totaled 574.4 million lbs., up 26.0 million lbs. from January 2011.

Butter and NDM commercial disappearance during January 2012 were lower than January 2011 at 117.7 million lbs., down 12.2 million lbs., and 159.5 million lbs., down 4.4 million lbs., respectively.

CME spot Cheddar block and barrel prices were unchanged today, with a barrel bid left on the board. CME Cheddar block and barrel prices settled at $1.4900/lb. and $1.4600/lb., respectively. CME spot butter closed at $1.5050/lb. down 1.75¢, with offer left on the board.

The California Department of Food and Agriculture (CDFA) released the California Weighted Average Price (CWAP) for NDM yesterday at $1.3013/lb. on 26.4 million pounds. That is a 4.3¢ decline from the prior week, on higher volume up 9.9 million pounds. The CWAP price includes the prices of transactions set within 150 days of the shipment; while the NASS NDM price includes sales where the price was established within 30 days of the transaction. Nevertheless, a significant amount of California produced powder is included in the NASS NDM price.

This week’s lower CWAP NDM price would indicate a lower NASS NDM price reported on Friday.

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