Dairy Markets Week in Review
Cash dairy product prices saw little change in the final full week of June Dairy Month. Cheese prices inched a little higher but are still below their respective government support levels.
The 40-pound blocks closed that Friday at $1.12 per pound, up a quarter-cent on the week, but 80 cents below that week a year ago.
The 500-pound barrels closed at $1.09, up 2 cents on the week, but 87 cents below a year ago. Twenty eight cars of block traded hands on the week and nine of barrel. The NASS-surveyed U.S. average block price inched up 0.2 cent, to $1.1494 and barrel averaged $1.1173, down 0.7 cent.
The cash Double A butter price held all week at $1.2050, 34 cents below a year ago. Twenty nine cars were sold on the week. The NASS butter average hit $1.2092, down 0.7 cent. NASS nonfat dry milk averaged 84.64 cents, down 0.5 cent, and dry whey averaged 27.55 cents, up 0.9 cent.
Price support purchases for the week amounted to 5.7 million pounds of nonfat dry milk, raising the cumulative total to 264 million.
As of Friday morning bids totaling 25.8 million pounds of nonfat dry milk, 167,550 pounds of Cheddar cheese, 119,000 pounds of anhydrous milkfat, and 2.9 million pounds of butter were accepted that week under the Dairy Export Incentive Program (DEIP).
Provided courtesy of Dairyline.