Dairy Markets Week in Review
Last week’s milk production report fed the bears. Block cheese closed Friday at $1.1750 per pound, down 2 cents on the week, and 33 1/4-cents below a year ago. Barrel closed at $1.1650, also down 2 cents on the week, and 29 cents below a year ago. Eight cars of block traded hands on the week and none of barrel. The NASS U.S. average block price hit $1.2016, down slightly. Barrel averaged $1.2090, down 0.1 cent.
Butter closed at $1.1525, down 2 1/4-cents on the week, and 49 3/4 cents below a year ago. 10 cars were sold. NASS butter averaged $1.1483, down 0.6 cent.
Price support purchases for the week totaled 1.9 million pounds of nonfat dry milk. That put the cumulative total at 63.6 million, up from 31.8 million a year ago.
Provided courtesy of Dairyline.