Dairyline Markets In Review

Cheese prices continued to bleed the second week of March but may have hit bottom. Dairy Profit Weekly’s headline last week that 2010 optimism may have been premature may be hauntingly true. Cash block cheese closed Friday at the Chicago Mercantile Exchange at $1.2675 per pound, down 3 cents on the week, and just 1 3/4-cents above a year ago. The barrels closed at $1.2625, up a penny and a quarter on the week, but 5 1/2-cents below a year ago. The block price lost 23 3/4-cents in the last four weeks with comparable losses on barrel.

Twenty five cars of block traded hands on the week and 35 of barrel. The latest NASS-surveyed block price averaged $1.4378 across the U.S., down 5.4 cents, while barrel averaged $1.3976, down 6.9 cents.

Butter is, or was, the bright spot. After eight consecutive sessions of gain the butter price gave up 3 cents this week and closed Friday at $1.4550, up a half cent from the previous week and 27 cents above a year ago. Thirty six cars were sold on the week. NASS butter averaged $1.4076, up 5.2 cents.

Provided courtesy of Dairyline.