Dairy Markets Week in Review
The cash dairy markets weakened this week in anticipation of Friday’s January Milk Production report. Block cheese closed Friday morning at $1.2950 per pound, down 5 cents on the week, and has lost 6 1/2-cents since February 7th, but it is 13 cents above that week a year ago when the blocks lost almost 7 cents and were on their way down to a year-low of $1.1225 in the last week of February.
Barrel closed Friday at $1.2725, down 4 3/4-cents on the week, but 12 3/4-cents above a year ago. 19 cars of block traded hands on the week and 13 of barrel. Barrel lost 9 3/4-cents over a seven day period. The NASS U.S. average block price hit $1.3028, up 0.6 cent. Barrel averaged $1.3583, up 2.2 cents.
Butter closed this morning at $1.21, down a penny on the week, but 4 cents above a year ago. 18 cars sold on the week. NASS butter averaged $1.2221, up 0.2 cent.
NASS nonfat dry milk averaged $1.0945, up 1.5 cents. Dry whey averaged a record high 58.39 cents, up a nickel. It gained 4.9 cents the previous week. Every penny on whey equates to about 6 cents on the Class III milk price. Dry whey has been a key mover in the Class III futures prices.
Provided courtesy of Dairyline.