The Cheddar block price at the Chicago Mercantile Exchange as of Wednesday, April 15, stood at $1.5725 per pound, down three-quarters of a cent from the end of March and down 62.5 cents from a year ago. The CME Cheddar block price continues to fall in a very narrow range; since the beginning of March, the block market has ranged from a low of $1.5300 per pound to a high of $1.5800 per pound.

Monthly average prices illustrate how stable cheese prices have been thus far in 2015. The CME block price average during January, February and March was $1.5218, $1.5382 and $1.5549 per pound, respectively. That’s the first time the CME Cheddar block price averaged under $1.60 per pound in each of the first three months of the year since 2012, when the block price averaged $1.5546, $1.4793 and $1.5193 per pound in January, February and March, respectively.

For what it’s worth, the CME Cheddar block price back in 2012 did reach $2.00 per pound, in September, and eventually reached a high of $2.12 per pound in late October. So relatively low and stable prices now don’t necessarily translate into low or stable prices for the rest of the year. Volatility and unpredictability are the rule, not the exception, when it comes to cheese prices. 

Mozzarella is priced above the CME Cheddar block price, by varying amounts, and tracks Cheddar block price movements closely.

Pizza makers who are interested in following the daily ups and downs of cheese prices, as well as reviewing past prices, can visit www.cheeseporter.com.

Stay in touch with PMQ.com for the latest information on cheese prices.

Dick Groves has been covering the cheese and dairy industries for the Cheese Reporter since 1978. He has been the newspaper’s editor since 1985 and publisher/editor since 1989.