Dairy Markets Week in Review
Cash cheese prices continued to weaken the first full week in May with blocks closing Friday at $1.1375 per pound, down 1 1/2-cents on the week, 86 cents below a year ago, and just three quarters of a cent above the government support price. Barrel closed at $1.0550, down 3 1/4-cents on the week, 92 1/2-cents below a year ago and 4 1/2-cents below support. Ten cars of block traded hands on the week and 21 of barrel. The NASS-surveyed U.S. average block price fell 3.6 cents, to $1.2119. Barrel averaged $1.1291, down 4.9 cents.
Butter closed at $1.24, up a penny on the week but 23 cents below a year ago. Twelve cars were sold. NASS butter averaged $1.1920, up 2.8 cents.
Cash Grade A nonfat dry milk closed at 88 cents per pound, up a penny on the week on seven sales. Extra Grade closed at 86 cents, up a half-cent. The NASS-surveyed nonfat dry milk price averaged 82.33 cents, up 0.1 cent. Dry whey averaged 21.3 cents, up 0.6 cent.
Price support purchases for the week amounted to 3.4 million pounds of nonfat dry milk, raising the year’s cumulative total so far to 234.3 million, compared to none a year ago
Provided courtesy of Dairyline.