Tough times for an odd corner of the economy: About 1.4 billion pounds worth of American, cheddar and other kinds of cheese is now socked away at cold-storage warehouses across the country, the biggest stockpile since federal record-keeping began a century ago. Cheese exports have suffered since Mexico and China, major dairy buyers, instituted retaliatory tariffs on U.S. cheese and whey.
Cheese shipments to Mexico in September were down more than 10 percent, according to the U.S. Dairy Export Council trade group. Shipments to China were down 63 percent on an annual basis.
Does that mean good news for cheese lovers in America? Spot market prices for 40-pound blocks of cheddar fell around 25 percent this year from 2014 prices, while 500-pound barrels, typically used for processed cheese, fell 28 percent.
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