Dairy Markets Week in Review
The cash dairy markets crashed this week. Block cheese closed at $1.5125 per pound, down 27 3/4-cents on the week, 41 3/4-cents below a year ago when the blocks plunged 26 1/4-cents, and is at the lowest level since April 2007.
Barrel closed Friday at $1.5225, down 22 1/2-cents on the week, and 47 1/2 below a year ago when they lost 16 1/4-cents. The NASS-surveyed block price averaged $1.7469, up 5.4 cents. Barrel averaged $1.8241, up 8.5 cents. Nine cars of block traded hands on the week and five of barrel.
Butter ended Friday at $1.11, down 14 3/4-cents on the week, 22 1/2-cents below a year ago, and the lowest price since April 2003. Only three cars were sold. NASS butter averaged $1.4197, down 11.8 cents. NASS nonfat dry milk averaged 85.23 cents, down 2 cents, and dry whey averaged 17.33 cents, down 1.3 cents.
Price support purchases for the week amounted to 7.8 million pounds of nonfat dry milk, raising the cumulative total to 93.3 million compared to none a year ago.
Provided courtesy of Dairyline.