Cheese Is Cheap Right Now

As long as your have the refrigerator space, it’s a good time to stock up on cheese. Prices for cheese have plummeted nearly 45 percent since 2014, and supply is rising while demand is falling right now, which means you can score cheese on the cheap. Monthly average prices for a block of cheddar cheese peaked on the Chicago Mercantile Exchange at nearly $2.35 per pound in 2014. Today it’s going for about $1.32 per pound as global milk and dairy prices plunged to a six-year low. Mary Ledman, a dairy economist adds, “Milk and cheese production is currently near its seasonal peak. Nevertheless, it’s unlikely that U.S. cheese prices will reach above $1.50 before September due to ample cheese in storage.” The Wall Street Journal recently noted that every person in the U.S. would have to eat an extra three pounds of cheese this year to balance the forces of supply and demand– here’s hoping you’re not lactose intolerant. (CBS News