According to a report on cold storage from the USDA, America has 1.385 billion pounds of cheese in its stockpile, the highest since records started being taken in August 1917.
George Mills
they should open up a pizza place.
Ha… they can’t hold it off the market to support prices forever.
That’s 4 pounds per person.
Food cost analysts are quick with math computations.
The city I reside in has a population of 60K.
Somewhere there is a warehouse with 5300 cases of cheese just waiting for us.
At least it is not all yellow, american, school lunch cheese… our tax dollars at work…
http://usda.mannlib.cornell.edu/usda/current/ColdStor/ColdStor-06-22-2018.txt
Natural cheese :
American …: 804,744,000
Swiss …: 31,402,000
Other …: 549,693,000
Total natural cheese …: 1,385,839,000 lbs
I was talking with someone in the produce business on a fairly large scale the other day. The issue was why so many seemingly illogical price changes. He said that today it is not who has the largest farm or an area with the most farms; it is who has the most refrigerated square footage. The people with all of this square footage can and do control prices for periods of time.
I have also read that on an international scale large corporations massively control prices from country to country. They might sell a lemon, hypothetically, for 50 cents in Mexico, 75 cents in France and $2.00 in the US. They price according to how much they think the populace can afford. These big corporation are willing to withhold product from the market to keep this system going even if they have to discard large inventories to do it.
Sounds like they took a page out of the Gem market strategy
They can hold a long time but not forever. Record inventory levels will lead to continued price drops. I would not be surprised to see the block price back below $1.30 before long.