|
|
Article: The end of the cheese exchange. (the National Cheese Exchange in Green Bay, WI, has closed, and is replaced by a cash market on the Chicago Mercantile Exchange)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- May 10, 1997
CopyrightCOPYRIGHT 1997 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CHICAGO
DAIRY farmers have long moaned that the National Cheese Exchange did not smell quite right. They can complain no longer. The exchange, in Green Bay, Wisconsin, has closed its doors, replaced on May 1st by a cash market for bulk cheddar on the Chicago Mercantile Exchange.
The National Cheese Exchange was a small market with big influence. Even though it handled less than 1% of the cheese sold in America, its prices were used to set terms for private contracts throughout the land. And therein lay the suspicious stench. Would it not be possible, dairy farmers wondered, for a large firm to drive prices down in Green Bay in order to save money on vast ...