ArrowStream economists have been closely monitoring dairy prices, specifically cheese, over the last few months during the pandemic. In the most recent issue of the Maloni Report, they discussed the decline in the cheese market.
"Cheese prices rose sharply in June due in a large part to strong U.S. buying supported by the government purchases for various programs including the food box. U.S. cheese disappearance in June was 4.5 percent better than previous year and a record for the month. The cheese markets are obviously declining now ("Like a Rock") with lighter buying almost certainly playing a part. Cheese block prices have fallen an incredible 39.5 percent over the last 17 trading days, and cheese barrels have declined 33.4 percent during the last 11 trading days. The cure for high prices is always high prices!"