Dairy Markets Week in Review
It happened after all, for the second time in history. The little train that couldn’t did…even as the market anticipated Monday’s May Milk Production report. Cash block cheese hit $2.00 per pound on June 13, after closing the previous week on a down note, and held there the rest of the week. That’s up 2 3/4-cents on the week, 80 1/2-cents above a year ago, and the highest it’s been since May 2004.
Barrel closed at $2.05, up 12 cents on the week, and 86 1/2-cents above a year ago. Seven cars of block and four of barrel traded hands. The NASS U.S. average block price hit $1.7623, up 5.9 cents. Barrel averaged $1.8148, up 9.2 cents.
Cash butter closed at $1.48, down 2 1/4-cents on the week, but 30 1/2-cents above a year ago. 27 cars were sold. NASS-surveyed butter averaged $1.5167, up 4 cents. NASS Nonfat dry milk averaged $1.9086, up 10.4 cents, and dry whey averaged 75.55 cents per pound, down 0.7 cent.
Provided courtesy of Dairyline.