Cheese prices and the Super Bowl

[paul7979]

So I finally figured it out! The cheese market has been skyrocketing the last few weeks in anticipation of huge demand for cheese to make cheesehead hats for the Green Bay Packers fans. :shock: If the Steelers win tonight, the CME market price will come tumbling down to the $1.30 range. Lets hope the cheeseheads don’t see their shadow or it’ll be 6 more weeks of winter cheese prices for us.

 

[perfect_pizzas]

Another 2.75 cents up today. Yet another up day with no trades taking place. I guess which football team is winning makes about as much sense as any other reason to manipulate the market up. Complete bullsheat!

 

[bodegahwy]

Yes, it is complete cr@p that a single unfilled bid with no actual transaction sets the price for the day. Why isn’t this trade publication (PMQ) doing some research and a story on this nonsense? Where is NAPO? Some trade organization… not.

 

[Patriot_sPizza]

I imagine fuel prices play a big part in many of the unseen cheese price moves…less cow food…more car food being grown as well…the green philosophy isn’t a cheap one…

 

[perfect_pizzas]

Since January 10 the block price has risen over 46 cents/pound. For a store that uses 1000 pounds per week that is $460 that is being stolen from you every week.
Since January 24th, the market has risen every single day. Every single trading day has seen the block market rise. During this period only 3 loads of cheese were traded. Only 2 days during this streak of increases even saw a trade take place.
The bottom line is there is nearly nobody that would buy a load of block cheddar on the CME. It is a place where the key traders decide, based on their feeling of where the market should be, what to set the price at. Grab your ankles, they aren’t done with us yet!