Cheese stocks are down, the milk supply is down, and demand is up.
The BFP is likely to decline hereafter. T he butter and cheese markets at the Chicago Mercantile Exchange were open on Wednesday, December 31, due to the holidays. The gap between blocks and barrels is still greater than normal. Trading was heavy with 9 carloads of barrels and 39 carloads of blocks trading hands. There were no actual trades that week.