Dairy Markets Kick Off Week In A Stronger Fashion
The dairy markets kicked off this week in a stronger fashion as prices reacted to friendly spot product trade and another government cheese solicitation.
Barrel cheese rose 2 cents and ended at $1.91 per lb. with four loads moving from sellers to buyers. Block cheese was bid 2 and a half cents higher and settled out at $1.96 and a quarter cent per lb. Butter lost 1 and a quarter cent and closed at $1.58 on three trades. Grade A Nonfat dry milk added 1 and a quarter to $1.02 and a half cents.
Dry whey lost 2 and a quarter cent to 34 cents per lb. Class III futures gained 20-47 cents per cwt and ended around $16.50 second half average. Class IV milk rose 30-50 cents as well. The rise in price took place after cheese had traded. The government came in once again and announced another purchase. The market added 20 cents in value following this announcement.