What it is
Milk concentrated and preserved as curd. In the United States, bulk cheddar is traded daily in standard blocks and barrels, and that price feeds into the formula used to pay farmers for milk.
How it is usually quoted
US dollars per pound.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
CME, settled in cash.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Milk supply and the cost of producing it
- Demand from restaurants, food manufacturers and shops
- Export demand
- Stocks held in cold storage
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
The European Union and the United States make the most. New Zealand is a large exporter.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Cheese is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.