Dairy Markets Week in Review
The “experts” are scratching their heads again over the cheese market. Forty-pound block started the final week of January with a rally, jumping 9 cents Monday morning and hit $1.74 per pound, with 13 trades taking place and 11 bids going unfilled. The next day the price dropped 2 1/2-cents, on 11 trades, but eight offers went uncovered. It closed Friday at $1.80 per pound, up 15 cents on the week, and 46 3/4-cents above that week a year ago.
Five hundred pound barrel closed Friday at $1.78, up 3 cents on the week, and 40 1/2-cents above a year ago. Thirty eight cars of block traded hands on the week and three of barrel. The NASS-surveyed block price lost 9.9 cents and averaged $1.9104. Barrel averaged $1.9450, down 8.7 cents.
Cash butter closed the week at $1.2225, down a penny, and a quarter-cent below a year ago. Nine cars were sold. NASS butter averaged $1.1953, down 1.4 cents. NASS nonfat dry milk averaged $1.4604, up 1.1 cent, and dry whey averaged 34.83 cents, down 4 cents on the week.
Provided courtesy of Dairyline.