Dairy Markets Week in Review

The markets had the Labor Day weekend and holiday to digest the Dairy Products report however the block cheese price closed the holiday shortened week at $1.27 per pound, unchanged on the week, but 63 1/4-cents below a year ago when they jumped almost 12 cents and appeared to be headed toward topping $2.00 again. They stopped short at $1.9550 the week of September 15.

Barrel closed Friday at $1.25, up a quarter-cent on the week, but 63 1/4-cents below a year ago. Eighteen cars of block traded hands on the week and nine of barrel. The NASS-surveyed U.S. average block price gained 4 cents, hitting $1.3730. Barrel averaged $1.3798, up 2.2 cents.

Cash butter, after holding at $1.17 for nine consecutive sessions, closed Labor Day week at $1.18, up a penny on the week, but 48 cents below a year ago. Only five cars were sold on the week. NASS butter averaged $1.1633, down 0.3 cent. NASS nonfat dry milk averaged 94.57 cents, up 1.7 cents, and dry whey averaged 29.06 cents, down 0.1 cents on the week.

There were no price support purchases that week and Dairy Export Incentive Program bid acceptances included 12 bids from four different exporters on 4.6 million pounds of butter. A bid on 220,460 pounds of Cheddar cheese was also accepted. There were no bids on powder.

Provided courtesy of Dairyline.