Dairy Markets Week in Review
The cash dairy markets remain depressed at the midpoint of June Dairy month. The block cheese price closed Friday at $1.1175 per pound, down 3 1/4-cents on the week, 84 1/4-cents below a year ago, and 1 1/4- cents below the support price. Twenty nine cars traded hands on the week plus, 12 of barrel.
Barrel closed at $1.07, down 2 1/4-cents on the week, 3 cents below support, and 88 cents below a year ago. That’s when the barrel price plunged 20 cents to $1.95. However, sales may now be triggered to Uncle Sam. The lagging NASS U.S. average block price was $1.1478, up a half-cent. Barrel averaged $1.1245, up 1.5 cents.
Butter closed Friday at $1.2050, down 2 1/4-cents on the week, 29 3/4-cents below a year ago. Twenty one carloads were sold. NASS butter averaged $1.2103, down 1.7 cents. NASS nonfat dry milk averaged 85.16 cents, up 1.3 cents, and dry whey averaged 26.68 cents, up 0.4 cent.
Cash Grade A nonfat dry milk lost a penny, slipping to 89 cents per pound. Four cars were sold. Extra Grade remained at 87.50.
Price support purchases for the week amounted to 7.9 million pounds of nonfat dry milk, raising the cumulative total so far to 258.4 million, compared to none a year ago. The 4.6 million pounds of butter purchased under the support program in January and February was sold at $1.1581-$1.1750 per pound this week.
Provided courtesy of Dairyline.