Dairy Markets Week in Review

The bleeding continued in the cash cheese market this week. The blocks closed Friday at $1.27 per pound, down 9 3/4-cents on the week, 51 1/2-cents below a year ago, and 4 cents below the temporary support price.

Barrels closed at $1.2475, down 9 1/4-cents on the week, 52 3/4-cents below a year ago, and 3 1/4-cents below support. Thirty cars of block traded hands on the week and 11 of barrel. The NASS U.S. average block price climbed to $1.3326, up 4 cents. Barrels averaged $1.3583, up 4.2 cents.

Butter held all week at $1.17, but that’s 49 cents below a year ago. Eleven cars were sold on the week. NASS butter averaged $1.1659, down 2.7 cents. NASS nonfat dry milk averaged 92.87 cents, up 4.9 cents, and dry whey averaged 29.14 cents, up 0.3 cent.

There were no price support purchases for the week, in fact 500,000 pounds of nonfat dry milk was canceled, reducing the year’s cumulative total to 278.7 million pounds. DEIP bid acceptances included 3.9 million pounds of butter, 2.2 million pounds of anhydrous milk fat, 44,000 pounds of Cheddar cheese, and 5 million pounds of nonfat dry milk.

Provided courtesy of Dairyline.