Dairy Markets Week in Review
Cash block closed Friday April 27 at $1.55 per pound, up 6 3/4-cents on the week, 39 cents above a year ago, and the highest price since September 2005. Barrel closed at $1.4950, up a penny on the week, and 36 1/4 cents above a year ago. Nine cars of block traded hands and 16 of barrel. The NASS U.S. average block price hit $1.4047, up 0.8 cent. Barrel averaged $1.4248, up 1.1 cents.
Alan Levitt said in Tuesday’s DairyLine that there’s a lot of speculation in cheese. Marketers are concerned there’s going to be a shortage later in the year, he said, so they’re buying ahead a little and that seems to be what’s driving the market.
Butter closed Friday at $1.4075 per pound, up 1 3/4-cents on the week, and 22 3/4-cents above a year ago. Six cars were sold on the week, all on Friday, and the first sale in the spot market since April 16. NASS butter averaged $1.3482, up 2.3 cents. NASS nonfat dry milk averaged $1.4884, up 9.6 cents, and dry whey averaged 78.94 cents, up a penny on the week.
Provided courtesy of Dairyline.