Dairy Markets Week in Review

The cash dairy markets showed little reaction to the Milk Production data but reports of hot weather later in the week added some strength. The block cheese price closed this week at $1.20 per pound, the highest since April, and was up another nickel and a half on the week, but 86 3/4-cents below a year ago when block was trading at $2.0675, only to plunge 23 1/4-cents the following week to $1.8350.

Barrel closed Friday at $1.17, up three cents on the week, but 80 cents below a year ago. Fifteen cars of block traded hands on the week and eight of barrel. The NASS-surveyed U.S. average block price lost 1.3 cents, slipping to $1.1172. Barrel averaged $1.1101, up 0.1 cent.

Butter closed at $1.26, up a penny on the week, but 28 cents below a year ago. Forty three cars were sold on the week. NASS butter averaged $1.1879, up 1.4 cents. NASS nonfat dry milk averaged 83.69 cents, down 0.8 cent, and dry whey averaged 29.41 cents, up 0.2 cent.

Price support purchases for the week totaled 742,958 pounds of nonfat dry milk, putting the cumulative total at 276 million pounds. Dairy Export Incentive Program bid acceptances amounted to 1.6 million pounds of nonfat dry milk to Africa and the Middle East.

Provided courtesy of Dairyline.