Dairy Markets Week in Review

The cash cheese market weakened the first week of February, sending shivers to farmers and their bankers. With Super Bowl demand behind us it remains to be seen what happens next. The cash block price closed the first Friday of February at $1.4925 per pound, down 2 1/4-cents on the week, but still 33 1/2-cents above that week a year ago.

The barrels closed at $1.4725, down 3 1/4-cents on the week, and 32 1/2-cents above a year ago. Only one car of block traded hands on the week and two of barrel. The NASS-surveyed U.S. average block price fell 1.4 cents, to $1.4502, while the barrels gained 2.6 cents, averaging $1.5024.

Cash butter started the week losing 2 cents, then gained almost 4 cents, but gave back 2 on Friday to close at $1.3275, down a quarter-cent on the week, but 22 1/2-cents above a year ago. Twenty four cars traded hands on the week. NASS butter averaged $1.4039, up 1.9 cents.

Cash Grade A nonfat dry milk closed the week at $1.15, down 4 cents, and Extra Grade held all week at $1.24. NASS nonfat dry milk reversed gears, averaging $1.1328, up 4.1 cents, following the previous week’s 19.6-cent loss. Dry whey averaged 38.94 cents, up 0.3 cent.

Provided courtesy of Dairyline.