Dairy Markets Weekly Review

(December 21, 2007) Checking the price front; cheese continues to confound. After losing 26 1/4-cents the previous week, the block price fell another 12 1/2-cents this week to $1.8050, and surprise surprise; reversed gears Friday and shot back up to $1.95 per pound, up 2 cents on the week and 62 1/2-cents above that week a year ago.

Barrel plunged 22 2/3-cents on Tuesday, a record single-day loss, following the previous week’s 16 1/4-cent plunge, but also rallied and closed Friday at $1.90, down 9 3/4-cents on the week and 61 cents above a year ago. Eleven cars of block traded hands on the week and six of barrel. The NASS U.S. average block price hit $2.1402, up 1.1 cent, while barrel averaged $2.1186, up 4.1 cents.

Butter closed Friday at $1.3225, down 1 1/4-cents on the week, but 9 1/4-cents above a year ago. Thirty one cars were sold. NASS butter averaged $1.3162, up 0.3 cent. NASS nonfat dry milk averaged $1.8235, down 1.5 cents. Dry whey averaged 45.84 cents, up 0.3 cent.

Cash Grade A nonfat dry milk plunged 12 cents Friday, to $1.73. Extra Grade was down 13 cents, to $1.72, on one offer of each. The markets are closed until December 26.