The Daily Close · Monday 12 October 2026

The market develops a rind

Closing assessment from the Department of Cultured Assets. Published at 20:00 UTC.

CT30 2,906.14 ▼ 0.52%

Sellers set the tone early and kept it. The Cheddar 30 closed down 0.52% at 2,906.14. Scamorza led the board with a gain of 7.69%, while Wrapped single fell 5.60% and finished the session at 115.67 curds.

The 11:00 cellar inspection found irregular moisture in smoked inventories. The inspectors declined to elaborate and left through the side door. At 15:00 the fondue desk raised its temperature target, a decision the committee described as neither hard nor soft. Smoked finished as the strongest sector at +2.39%, with fresh the weakest at -2.92%. The brine settlement window at 17:30 lifted blue names into the close.

Positioning looks crowded in the soft names, which tend to spread when pressed. We continue to rate the broad board Hold at Room Temperature and remain constructive on Scamorza. Cracker coverage is adequate. The strategic biscuit reserve was not touched.