Dairy Markets Week in Review
The dairy markets saw some ups and downs the second week of August but block cheese closed the week at $1.20 per pound, up a half-cent on the week, but 20 1/4-cents below a year ago. Barrel closed Friday at $1.1925, up 3 1/4-cents on the week, but 16 3/4-cents below a year ago. Eight cars of block were traded and nine of barrel. The NASS U.S. average block price slipped to $1.1434, down a penny. Barrel also averaged $1.1434, down 1.5 cents.
Cash butter closed Friday at $1.29, up a half-cent on the week, but 40 1/4-cents below a year ago. 42 cars were sold. NASS butter averaged $1.1539, up a penny.
Cash Grade “A” and extra grade nonfat dry milk were bid up 3 cents this week, hitting 90 cents per pound. The CME’s Daily Dairy Report credits tightening milk supplies in the West where the majority of the powder is dried. No government price support purchases of powder are expected for the foreseeable future, according to DDR. Some sales have even been canceled.
Provided courtesy of Dairyline.