Dairy Markets Week in Review
The cash dairy market is somewhat in limbo as it anticipates whether government will try to affect it some more. Cheese prices reversed six weeks of gains the last week of August. The blocks closed Friday at $1.3675 per pound, down 2 1/4-cents on the week, and 33 1/2-cents below a year ago. Barrel closed at $1.34, down 3 cents on the week, and 29 1/4- cents below a year ago. The blocks had gained 30 cents in those six weeks and barrel gained 28 cents.
Thirty cars of block traded hands on the week and 25 of barrel. The latest NASS-surveyed U.S. average block price hit $1.2927, up 7.1 cents on the week. Barrel averaged $1.3163, up 5.7 cents.
Butter closed Friday at $1.17, unchanged on the week and halted four weeks of losses, but is 44 1/4-cents below a year ago. Nineteen cars sold on the week. NASS butter averaged $1.1931, down 1 1/2-cents. NASS nonfat dry milk averaged 88 cents, up 1.2 cents, and dry whey averaged 28.82 cents, up a penny.
Price support purchases for the week totaled 2 million pounds of nonfat dry milk, raising the cumulative total to 279.2 million. Uncle Sam accepted DEIP bids on 11 million pounds of nonfat dry milk for export this week, 275,575 pounds of butter, and 169,754 pounds of Cheddar cheese.
Provided courtesy of Dairyline.