Dairy Markets Week in Review

The cash cheese market added more strength the first week of August, the fourth consecutive week of gain. Block cheese closed Friday at $1.31 per pound, up 2 1/2-cents on the week and the highest it’s been since late February, but that’s still 45 3/4-cents below a year ago. The blocks are now trading at the government’s new temporary support price.

Barrel closed Friday at $1.29, up 3 cents on the week, 43 cents below a year ago, and a penny above support. Fourteen cars of block traded hands on the week and only two of barrel. The NASS-surveyed U.S. average block price inched up 1.2 cents, to $1.1318, while barrel jumped 3 1/2-cents, to $1.1602.

Cash butter closed Friday at $1.23, down a penny and a half on the week, and 42 cents below a year ago. Twenty six cars were sold this week. NASS butter averaged $1.2246, down 0.4 cent.

Cash Grade A nonfat dry milk closed Friday at 98 cents per pound, up 7 cents on the week, while Extra Grade remained at 90 cents. The new temporary support price on nonfat dry milk is 92 cents. NASS-surveyed powder averaged 84.13 cents, down 0.9 cent, and dry whey averaged 29.61 cents, up 0.1 cent.

Price support purchases for the week totaled 892,394 pounds of nonfat dry milk. Dairy Export Incentive Program (DEIP) bid acceptances for the week included 826,725 pounds of butter to Africa and the Middle East and 2.2 million pounds of nonfat dry milk to Asia and Eurasia.

Provided courtesy of Dairyline.