Dairy Markets Week in Review
Dairy farmers are seeing more light at the end of their financial tunnel as dairy product prices continue to climb. The cash block cheese price closed the first Friday of November at $1.56 per pound, up a nickel on the week and the highest since mid-December 2008, however it’s still 9 cents below a year ago. Barrel closed Friday at $1.5250, up 3 3/4-cents on the week, but 11 1/4-cents below a year ago. Twenty three cars of block was sold on the week and seven of barrel. The lagging, milk price-dictating, NASS-surveyed, U.S. average block price hit $1.4690, up 1.7 cents on the week. Barrel averaged $1.4738, up 1.5 cents.

Cash butter closed the week at $1.50, up 9 cents, but still 13 1/2-cents below a year ago. Only four cars were sold. NASS butter averaged $1.2968, up a nickel.

Cash Grade A nonfat dry milk closed Friday at $1.37, up 3 1/2-cents on the week, while Extra Grade closed at $1.40, up 13 cents and even saw a trade this week. The NASS-surveyed powder price averaged $1.0190, down 1.6 cents, and dry whey averaged 34.02 cents, up 1.4 cents.

There were no Dairy Export Incentive Program bid acceptances this week and no price support program purchases, leaving the cumulative powder purchase total at 132,276 pounds, compared to 37 million pounds a year ago.

Provided courtesy of Dairyline.