Dairy Markets Week in Review
Block cheese closed the last full week of June Dairy Month at $1.92 per pound, down 4 cents, and 2 cents below that week a year ago. Barrel closed Friday at $1.96, up a penny on the week, and 5 cents above a year ago. Thirteen cars of block traded hands on the week and two of barrel. The NASS-surveyed U.S. average block price hit $2.1519, down 6.1 cents. Barrel averaged $1.1765, down a nickel.
Cash butter, which saw twelve consecutive sessions of gain, closed Friday at $1.5450, up 4 1/4-cents on the week and 6 cents above a year ago. Eight cars traded hands on the week. NASS butter averaged $1.4690, up 1.6 cents. NASS nonfat dry milk averaged $1.3610, up 2.9 cents, and dry whey averaged 27.69 cents, down 0.1 cent.
Market analyst, Alan Levitt said in Tuesday’s DairyLine that, over the last year the cheese price had six runs over $2.00 per pound but backed off once demand started to slow. In the five previous run ups, the block price fell to the $1.80s or lower, he said, so he expects that to happen this time as well.
Provided courtesy of Dairyline.