Speaking of expensive, the Datum FS Foodservice Commodity Index in August was the highest in 25...
CME cheese which just weeks ago was at multi-year lows for the time period. Cheese blocks have risen almost $.50 lb in the last four weeks. In the latest USDA milk production report for June, the U.S. milk cow herd declined by 20,000 head. And there are expectations that the milk cow herd will continue to decline, due in part to the inflated cow prices, into 2024 which would be supportive of the dairy markets. Note that the July milk replacement heifer (think: milk cows in waiting) inventory was the smallest for the date since the Boston Red Sox were on their way to winning their first World Series in 86 years in 2004.
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