Dairy News for 3-18-10

The cheese markets are relatively steady with good buying occurring at the current price levels. The cheese market bottom may be here which suggests that eventually higher prices will transpire. History indicates that modest cheese market increases may be impending during the next few weeks but that it might be May before cheese prices move notably higher. January US cheese exports were 16% larger than last year and the second most since October 2008. January US butter exports were 54% more than 2009. Further butter price increases are likely this spring.