Dairy Markets Week in Review
Cheese prices keep marching higher. Block cheese closed the Memorial Day holiday shortened week at $1.8825 per pound, up 8 cents on the week, 68 1/4-cents above a year ago, and the highest it’s been since June 2004. Barrel closed Friday at $1.91, up 11 cents on the week, and 71 cents above a year ago. Only three cars of each traded hands on the week.
The latest NASS-surveyed U.S. average block price hit $1.6605, up 3.4 cents. Barrel averaged $1.6640, up 4.4 cents. Some are questioning the gap between the NASS prices and the CME spot market.
Butter closed Friday at $1.5450, up 3 1/2-cents on the week, and 37 cents above a year ago. Six cars were sold. NASS butter averaged $1.4689, up 4.2 cents.
Cash Extra Grade nonfat dry milk gained 13 cents on the week and closed at $1.93. Grade “A” closed at $2.11, up a nickel. NASS powder averaged $1.7927, up a whopping 12.3 cents, and dry whey averaged 75.34 cents, down slightly.
Provided courtesy of Dairyline.