CME Block Price Decreases to Support Level for the 1st Time Since March 2006

Posted by Brian Gould Thu, 01 Jan 2009 14:57:00 GMT

As of yesterday, the CME spot block price is at $1.1325 and the barrel price is $1.13.  Government purchase prices are $1.1314 and $1.1014, respectively.  The last time the Feds bought cheese was 2003, when 35.4 mil. lbs. was purchased between Jan. and July.