Cheddar prices are the one area of dairy commodities that haven’t seen a 2021 bounce in prices.

Skim milk power (SMP), butter and whole milk powder (WMP) have all seen a very significant lift in prices since the beginning of the year.

This time last year, SMP was heading for €2,000/t - current prices are sitting close to €2,500/t.

Butter prices at €4,000/t are almost €1,000/t ahead of 2020 levels.

WMP this time last year was making €2,700/t, with 2021 prices heading for €3,200/t.

In contrast, cheddar prices as reported are trading closer to €3,000/t – very similar to 2020 levels.

While cheese prices are traditionally more stable and higher than some of the other dairy commodities, some were expecting a bounce in cheese prices, but it hasn’t come yet.

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