Dairy Markets Week in Review
The cash crash happened Tuesday on cheese at the Chicago Mercantile Exchange, though there was a short lived rally on Thursday. When the dust settled Friday morning the blocks has fallen to $1.81 per pound, down 13 cents on the week and 7 1/2-cents below that week a year ago. Barrel closed at $1.7925, down 16 cents on the week and 9 3/4-cents below a year ago. Forty one cars of block traded hands on the week and 38 of barrel. The NASS-surveyed U.S. average block price jumped to $1.8449, up 7.6 cents. Barrel averaged $1.8817, up 11.2 cents.
Butter closed Friday at $1.7450, down a quarter-cent on the week but 42 3/4 cents above a year ago. Six cars were sold. NASS butter averaged $1.6835, up 4.4 cents.
Cash Grade A nonfat dry milk closed Friday at $1.05, down a nickel on the week, but one carload was sold. Extra Grade remained at $1.10 all week. NASS-surveyed nonfat dry milk averaged $1.1720, up 1.1 cent, and dry whey averaged 21 cents, down a half-cent.
Provided courtesy of Dairyline.