AGRICULTURE

Kraft Is Cutting Cheese Prices: Kraft USA is reducing the price of many of its natural and processed cheeses 8%, effective Monday. The economic slump has meant that “we’ve seen volume weakness in the cheese category,” said President James M. Kilts. “Lower list prices from Kraft will enable our retail customers to begin passing the savings on to consumers and stimulate demand for cheese products.” Glenview, Ill.-based Kraft USA is part of Kraft General Foods Inc., which in turn is a unit of Philip Morris Cos.