Cheese prices have been tumbling after a cyberattack interrupted production at one of America's largest cheese producers

• Wisconsin-based Schreiber Foods was the victim of a cyberattack on October 23.
• The company processes up to 75% of the cheese that tops burgers and sandwiches in the US.

Beef burgers may have gotten more expensive in recent weeks, but the cheese on top may have actually gotten cheaper.

That's due in part to a cyberattack against one of the largest dairy processors in the US, Wisconsin-based Schreiber Foods, which had its operations interrupted by a "cyber event" on October 23.

The alleged hackers reportedly demanded a $2.5 million ransom to unlock the computer systems that control the flow of milk and cheese through the company's facilities, according to the Wisconsin State Farmer.

A Schreiber Foods spokesperson confirmed to Insider that a cyber incident affected all of its locations, a "specialized response team" immediately got to work on the issue, and that the company had fully resumed production and shipping five days after the initial interruption.

Schreiber Foods produces a wide array of dairy products, including cheeses, yogurts, and sour cream, but reportedly maintains a roughly 75% market share for the sort of bulk yellow cheese that is commonly used to top sandwiches and hamburgers.

One indication of the company's reach is the commodity price of barrel cheese, the 500-pound units of intermediately processed cheese that are sold for further processing into slices, powders, sauces, and other products.

A dairy industry analyst said the five-day disruption at Schreiber led to a such a backlog of barrel cheese that it is the likely cause of a price-drop that has reached as much as 20% in the weeks following the attack as the delayed product softened the market.

US Department of Agriculture data show the barrel cheese price tumbling from a 2021 peak of $1.85 for the week ending October 22 to $1.46 on Tuesday.

Prior to the cyberattack, prices for barrel cheese had been on the rise due in part to rising milk costs.

The incident follows a similar, higher-profile attack on Brazilian meat supplier JBS this summer, which disrupted the meat market and highlighted the vulnerability of the digital infrastructure underpinning the US food supply.