Dairy prices have moved sharply higher this summer. Block Cheddar cheese prices on the Chicago Mercantile Exchange averaged below $1.40 per pound in June, jumped to $1.55 for July and look to average above $1.60 in August. Butter has surged from an average of $1.64 in June to $1.78 in July, and was above $2 per pound in late August, a six-year high. Last year, butter averaged $1.20 for the month of August. Fundamentals remain slightly bullish for prices. The Department of ...
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