The Daily Close · Thursday 29 October 2026

The market develops a rind

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

CT30 3,014.69 ▼ 0.77%

The session began with a smell nobody wanted to name. The Cheddar 30 closed down 0.77% at 3,014.69. Limburger led the board with a gain of 6.84%, while Smoked gouda fell 8.14% and finished the session at 54.51 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 well within the rind. Blue finished as the strongest sector at +4.26%, with smoked the weakest at -7.12%. The whey inventory release at 17:30 weighed on hard 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 cautious on Smoked gouda. Cracker coverage is adequate. The strategic biscuit reserve was not touched.