Dairy Markets Week in Review

Cash cheese prices at the Chicago Mercantile Exchange ended the year on a down note and corrected the unusually large price spread, but prices are sharply above those a year ago. The block price closed New Year’s Eve at $1.45 per pound, down 11 3/4-cents on the holiday shortened week, but a whopping 31 3/4-cents above that week a year ago when they tumbled almost 14 cents, to $1.1325. This week’s loss was in addition to the previous week’s 13 1/3 cent decline.

Barrels closed at $1.43, down a penny on the week but 30 cents above a year ago. Sixteen cars of block traded hands on the week and three of barrel. The NASS surveyed U.S. average block price hit $1.6917, up 1.7 cents. Barrel averaged $1.4994, down 1.5 cents.

Butter held all week at $1.3275, 19 3/4-cents above a year ago. Nothing sold. NASS butter averaged $1.3556, down 8 cents. NASS nonfat dry milk averaged $1.3327, up 4.3 cents, and dry whey averaged 37.25 cents, up 0.3 cent.

Provided courtesy of Dairyline.