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Cash dairy prices were mixed in the New Year's holiday-shortened week. Cheddar blocks closed the first Friday of 2018 at $1.4950 per pound, down 4.5 cents on the week, while barrels finished at $1.39, down 5.25 cents, with barrels falling to $1.30 by Tuesday.
Cash butter dipped to $2.18 per pound after a Friday close of $2.2375.
Weak spot cheese and milk prices reflect ample milk supply relative to demand, which pressures Class III milk values and the dairy feed-buying outlook. Buyers should expect soft dairy price signals to persist while production stays strong.
capitalpress.comStaff ReportsJan 9, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Cash cheddar blocks and barrels fell sharply (barrels to $1.30), and cheese prices directly drive Class III milk futures, so this is the most direct driver of the drop.
