Dairy Markets Week in Review
Cash cheese saw some ups and downs the second week of 2009 as it awaited Friday afternoon’s release of preliminary December milk production data and got word that the European Union is restarting its dairy export subsidies, something that will surely have repercussions on the world dairy market.
The CME block price inched higher on Monday, then saw three days of losses, but ended Friday on an up note and closed at $1.07 per pound, down a quarter-cent on the week, and 58 cents below that week a year ago when the blocks tumbled 20 cents, to $1.65.
Barrel closed Friday at $1.09, up 2 cents on the week, but 71 1/4-cents below a year ago. Nineteen cars of block traded hands on the week and 13 of barrel. The NASS U.S. average block price fell to $1.3471, down 13.1 cents. Barrel averaged $1.2804, down 15.7 cents.
Provided courtesy of Dairyline.