Dairy Markets Week in Review
Cash block cheese closed the first Friday of June Dairy Month at $1.20 per pound, down 2 1/2-cents on the week, and 31 cents below a year ago. Barrel also closed at $1.20, up a penny on the week, but 27 cents below a year ago. Four cars of block traded hands and three of barrel. The NASS U.S. average block price hit $1.1729, up 1.7 cents. Barrel averaged $1.1761, up 2.5 cents.
Butter closed at $1.1750, down a quarter-cent on the week, and 27 1/2 cents below a year ago. Six cars were sold. NASS butter averaged $1.1576, down 0.7 cent.
Memorial Day is behind us and summer is on its way. Downes-O’Neill dairy economist Bill Brooks predicted that the cash dairy markets will likely move sideways for a while, similar to what we saw at the beginning of May.
Provided courtesy of Dairyline.