The "There Is No Inflation" Report: Barrel Cheddar, Butter Prices Hit Record Highs

Barrel cheddar cheese and butter each hit their highest prices ever on the Chicago Mercantile Exchange, this past week.

Butter exports are up nearly 40% over 2013 and cheese exports are up 30%, according to the U.S. Dairy Export Council. All those dollars being held overseas are starting to be put to use.

It is only the beginning. Other commodities will, over time, see strong foreign demand. At present, the dollar is generally strong against most foreign currencies, this won't last.

-RW