Dairy Markets Week in Review

Hopes of a cheese price recovery suffered a setback early this week following a couple weeks of gains. However, Friday’s session ended on an up note with the block price closing at $1.29 per pound, after dipping to $1.25 on Wednesday. The Friday close was down a quarter-cent on the week and 52 cents below a year ago. The barrels closed at $1.2975, unchanged on the week, but 45 1/4-cents below a year ago. Thirty four cars of block traded hands on the week and 39 of barrel. The lagging, NASS-surveyed, U.S. average block price slipped 0.1 cent, to $1.2226. Barrel averaged $1.2768, up 4.6 cents.

Cash Grade A butter closed the week at $1.1875 per pound, up a half-cent on the week, but 17 1/4-cents below a year ago. Four cars were sold on the week. Cash Grade A nonfat dry milk jumped a penny and a quarter on an unfilled bid, to 84 1/2-cents per pound, while Extra Grade remained trading at 85 cents.

The NASS-surveyed butter price averaged $1.1603, up 2.4 cents. Nonfat dry milk averaged 81.83 cents, up 0.3 cent. Dry whey averaged 17.38 cents, up 0.9 cent.

Price support purchases for the week amounted to 6.3 million pounds of nonfat dry milk, raising the cumulative total so far to 205.4 million. USDA announced that it will direct 200 million pounds of powder to the school lunch program and food banks, with additional quantities possibly directed to foreign aid programs. There was no word on resurrecting the Dairy Export Incentive Program.

Provided courtesy of Dairyline.