Dairy Markets Week in Review

Cheese prices continue to weaken, further discouraging farmers whose milk check hinges on those prices. The 40-pound block price closed Friday at the Chicago Mercantile Exchange at $1.17 per pound, down 6 1/2-cents on the week and 73 1/2-cents below that week a year ago. The 500-pound barrels closed at $1.11, down 6 cents on the week, 73 cents below a year ago, and only a penny above the government support price. Five cars of block traded hands on the week and 20 of barrel. The NASS-surveyed block price average slipped 0.2 cent, to $1.2761. Barrel averaged $1.2988, down 2.1 cents.

Butter closed at $1.2025, down a quarter-cent on the week and 19 cents below a year ago. Eight cars were sold on the week. NASS butter averaged $1.1575, down 1.3 cents. NASS nonfat dry milk averaged 82.03, up 0.4 cent, and dry whey averaged 19.31 cents, up 1.5 cents.

Provided courtesy of Dairyline.