A benchmark like WTI, light mild Cheddar cheese prices are determined by commodities markets that responded to pandemic changes in supply and demand.
Global lockdowns have created supply problems for Belgian French fries and French cheese because households cannot make up for decreased commercial demand.
From changing tastes to tariffs to the number of dairy cows, changes in demand and supply have created a massive cheese glut.
Russia has committed fromagicide. Our (vastly simplified) story can start with Russia’s policy in Ukraine. Next we had trade restrictions from the U.S., EU, Australia, Canada and other nations. Then Russia responded with new trade rules that banned a long list of…