USA – Cheese prices plummeted between late October and early November, according to the United States Department of Agriculture’s latest figures.

Following a steady period of about three months, the market price for Cheddar dropped by 10.89 cents per kilogram in 20 kilogram blocks, while barrel prices fell even further.

According to the USDA’s monthly livestock, dairy and poultry report, the decline had been expected as processors move away from butter and powder production and turn to cheese. The report adds that prices may stabilise in the run up to Christmas, but that further price cuts are expected.

The report predicted that cheese prices are expected to remain higher than last year through the winter and that demand for cheese will recover and that other dairy products will also see strong demand. However, the report warned that any price improvement will be “relatively limited”.