The Daily Close · Monday 19 October 2026

The market develops a rind

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

CT30 2,945.35 ▼ 0.24%

Sellers set the tone early and kept it. The Cheddar 30 closed down 0.24% at 2,945.35. Slice composite led the board with a gain of 8.79%, while Gruyere fell 9.79% and finished the session at 142.05 curds.

The 11:00 cellar inspection found irregular moisture in processed 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 appropriately aged. Fresh finished as the strongest sector at +2.85%, with hard the weakest at -3.37%. The rind integrity hearing at 17:30 weighed on smoked names into the close.

Weather in the caves remains the main risk to our view. We continue to rate the broad board Hold at Room Temperature and remain cautious on Gruyere. Cracker coverage is adequate. The strategic biscuit reserve was not touched.