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Milk markets found support despite a sell off in Cheese.

We still need the CME In the conversation about the block and barrel cheese prices that play a role into the Class III price farmers receive for their milk, some might ask if the way cheese value is discovered — through the CME — remains relevant. After all, the roots of the exchange date back to the early 1900s, when it was mostly used as a way to connect buyers and sellers. However, the short answer is still yes, the panelists of the March 3 Hoard’s Dairyman DairyLivestream agreed. If we didn’t use the CME, we would need something similar instead, noted the University of Wisconsin-...

Cheddar blocks and Cheddar barrels . . . these terms are likely familiar to those who closely follow dairy commodity prices.