Cheese Markets Continue Selloff
The selloff that began on Thursday in the cheese market continued on Friday as barrels led the charge moving 3 cents lower to $1.46. Eleven loads changed hands, accounting for nearly one third of this week's volume. Blocks followed suit dropping 3 cents to $1.49 1/2.
Butter moved in the opposite direction rising 1 1/4 cents after yesterday's selloff, finishing at $2.17 1/4 per pound. Grade A nonfat dry milk was unchanged at 67 1/4 cents.
Here are averages for the week:
- Butter: $2.16 1/2 per pound
- Block cheese: $1.53 per pound
- Barrel cheese: $1.48 per pound
- Grade A nonfat dry milk: 67 3/4 cents per pound
The lower cheese trade led Class III milk prices lower. The average price for Class III milk from now through the end of the year rests at $15.05 per cwt, down 4 cents from Thursday. The Class IV markets saw increased volume, with the front three contracts trading and prices remaining unchanged at $14.28.