Dairy Markets Week in Review
Wholesale dairy product prices remain depressed but are showing a little strength. While retail dairy product prices are down from a year ago, to the delight of consumers, dairy farm milk prices remain far below the cost of production.
The Memorial Day holiday-shortened week saw block cheese close at $1.1525 per pound, up a penny and a quarter on the week, but $1.0775 below a year ago. Barrel closed Friday at $1.10, up 2 cents on the week, but $1.10 below a year ago. Thirty seven cars of block traded hands on the week and 24 of barrel. The NASS-surveyed U.S. average block price fell to $1.1485, down 1.7 cents. Barrel averaged $1.0994, down 0.7 cent.
Butter closed at $1.2650, unchanged on the week, but 21 1/2-cents below a year ago. Fourteen cars were sold on the week. NASS-surveyed butter averaged $1.2374, up 2.1 cents.
Cash Grade A nonfat dry milk closed Friday at 90 cents per pound, up a penny on the week, and Extra Grade closed at 87.50, up a half-cent.
NASS-surveyed nonfat dry milk averaged 83.13 cents, down 0.4 cent, and dry whey averaged 23.90 cents, up 0.4 cent.
Price support purchases for the week totaled 1.5 million pounds of nonfat dry milk, raising the cumulative total to 239.8 million, compared to none a year ago.