Dairy Markets Week in Review
The hemorrhaging continues in the cash cheese market where 40-pound block closed Friday at $1.3025 per pound, down 21 cents on the week and 64 3/4-cents below a year ago. The blocks have lost 50 cents in three weeks.
The 500-pound barrels closed at $1.3550, down 16 3/4-cents on the week and 54 1/2-cents below a year ago. Twelve cars of block traded hands on the week and four of barrel. The NASS U.S. average block price gained 2.9 cents, hitting $1.7763. Barrel averaged $1.7768, down 4.7 cents
Butter regained 12 cents in the first three days of trading this week but started to melt Thursday, losing 3 cents and another 3 on Friday, and closed at $1.17, up 6 cents on the week but still 15 1/4 below a year ago. Four cars traded hands on the week. NASS butter averaged $1.2346, down 18.3 cents.
Both cash Grade A and Extra Grade nonfat dry milk dropped 2 1/4-cents this week and closed Friday at 88 cents per pound. NASS powder averaged 83.93 cents, down 1.4 cents. Dry whey averaged 17.02 cents, down 0.3 cent.
Price support purchases this week amounted to 8.2 million pounds of nonfat dry milk, raising the cumulative total to 101.5 million pounds.
Provided courtesy of Dairyline.