"Anticipation of reduced demand" for cheese appears to be behind the fall in the price of Class III milk, says DairyReporter.com's US commodities expert, John Geuss.
Dairy Farmers of America (DFA) is facing court over allegations that it manipulated trading in the Chicago Mercantile Exchange (CME) Cheese Spot and Milk Futures markets to drive up the price of dairy products across the US.
CME Group is launching cheese futures and options on its Globex trading platform to help processors and manufacturers protect themselves from price volatility.
The US' Commodity Futures Trading Commission (CFTC) is to
investigate allegations of cheddar cheese price rigging, said to
have occurred at one of the country's most influential commodity
trading centres, Tom Armitage reports.
