Cheese prices are plunging as Covid’s second wave drives diners from restaurants.
The pandemic is forcing U.S. officials to yet again tighten their grip on eating out, and that’s cutting into prices for cheese and other dairy products across the U.S. California imposed a curfew across much of the state, closing restaurants to all but take-out orders, and New York City’s Mayor Bill de Blasio has said it’s “just a matter of time” until his state halts indoor dining.
Some wholesale cheddar prices have fallen more than 40% this month. Prices for cheese blocks, the type that graces party platters, have declined 13% this year to about $1.66 a pound, according to Chicago Mercantile Exchange data. Barrel cheese, typically used to make processed cheeses, is down 18%.