The Daily Close · Tuesday 20 October 2026

A constructive session for the wheel

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

CT30 2,961.08 ▲ 0.53%

Buyers were present in size and in good humour. The Cheddar 30 closed up 0.53% at 2,961.08. Stilton led the board with a gain of 7.56%, while Gruyere fell 8.14% and finished the session at 132.73 curds.

The 11:00 cellar inspection found irregular moisture in fresh inventories. The inspectors declined to elaborate and left through the side door. At 15:00 the fondue desk lowered its temperature target, a decision the committee described as appropriately aged. Fresh finished as the strongest sector at +4.83%, with hard the weakest at -3.74%. The whey inventory release at 17:30 weighed on hard names into the close.

We expect volatility to persist while the board debates the definition of a slice. We continue to rate the broad board Melt and remain cautious on Gruyere. Cracker coverage is adequate. The strategic biscuit reserve was not touched.