Dairy Markets Week in Review
Cash block cheese started the week by gaining three cents and closed Friday at $1.28 per pound, up 7 3/4-cents on the week, but 18 3/4-cents below a year ago, and back on top of the barrel price. Barrel closed Friday at $1.26, up 3 3/4-cents on the week, but 13 cents below a year ago. Twenty eight cars of block traded hands and three of barrel. The NASS surveyed U.S. average block price slipped to $1.2464, down 1.4 cents. Barrel averaged $1.3322, down 3 cents.
Butter closed Friday at $1.3550, down a half on the week, and 28 cents below a year ago. Seven cars were sold. NASS butter averaged $1.2883, up 1.2 cents.
Two unfilled bids pushed cash Grade “A” nonfat dry milk pole vaulting 26 cents on Tuesday, followed by a 15 cent jump Wednesday, and finished Friday at $1.65 per pound, reflective of the tight market. Extra Grade remained at $1.05.
The November Federal order Class I base milk price was announced Friday morning at $12.40 per hundredweight (cwt.), down 2 cents from October, $2.16 below November 2005, and triggers a 43.9-cent MILC payment to producers.
The NASS butter price averaged $1.2820 per pound, down 1.7 cents from October. Cheese averaged $1.2846, down 2.2 cents. Nonfat dry milk averaged 88.91 cents, up 3.5 cents, and dry whey averaged 35 cents, up 3.4 cents.
Provided courtesy of Dairyline.