Dairy Markets Week in Review
The cash dairy markets showed little reaction to the April milk production data although the block cheese price closed Friday at $1.14 per pound, up three-quarters of a cent on the week, but almost half of what it was a year ago when it hit a record $2.2850. Barrel closed Friday at $1.08, unchanged on the week, but $1.17 below a year ago. Twenty six cars traded hands on the week and 16 of barrel. The NASS-surveyed U.S. average block price fell 1.4 cents, to $1.1654. Barrel averaged $1.1064, down 0.6 cent.
Butter closed Friday at $1.2650, unchanged on the week, but 22 1/2-cents below a year ago. 23 cars were sold. NASS butter averaged $1.2153, up 1.7 cents.
Cash Grade A nonfat dry milk closed at 89 cents per pound, up a penny on the week. Extra Grade closed at 87 cents, also up a penny on the wee.
NASS-surveyed nonfat dry milk averaged 83.49 cents, up 0.7 cent. Dry whey averaged 23.47 cents, up a half-cent on the week.
Price support purchases amounted to 2.5 million pounds of powder for the week. The Agriculture Department announced Friday that it will re-open the Dairy Export Incentive program. The last DEIP export was January 2004.
Provided courtesy of Dairyline.