Dairy Markets Week in Review
CME cash cheese reversed gears the first week of November. Block closed Friday at $1.65 per pound, up 4 1/4-cents on the week, but 40 1/2-cents below that week a year ago. It had lost 19 cents since October 23. Barrel, after dropping to $1.6075 on Wednesday, rallied and closed Friday at $1.6375, still 4 3/4-cents below the previous week and 36 1/2-cents below a year ago. Thirty three cars of block traded hands on the week and 11 of barrel. The NASS-surveyed U.S. block price averaged $1.8236, down 3.2 cents. Barrel averaged $1.8604, down 1.5 cents.
Cash butter took another 5-cent hit after dropping 6 1/2 cents the previous week and closed Friday at $1.6350, still 25 cents above a year ago. Only two carloads were sold on the week. NASS butter averaged $1.7114, down 0.9 cent. NASS nonfat dry milk also dropped 0.9 cent, averaging 91.32 cents per pound, and dry whey averaged 19.01 cents, down 0.2 cent.
Cash Grade A and Extra Grade nonfat dry milk closed at 96 cents per pound, down a penny on the week. Price support purchases of powder this week, at 80 cents per pound, totaled 9.4 million pounds, and raised the cumulative total to 46.8 million, compared to none a year ago.
Provided courtesy of Dairyline.