Dairy prices strengthen

Dairy prices strengthened the second week of December as traders awaited the last Global Dairy Trade auction of 2018 on Tuesday, plus Wednesday afternoon’s November Milk Production report.

Cheddar block cheese, after falling to $1.33 per pound last Monday, lowest CME level since May, 2016, rallied and closed Friday at $1.4075, up 5 3/4-cents on the week but 12 1/4-cents below a year ago. The barrels finished at $1.31, up 8 3/4-cents on the week and 35 cents below a year ago. Five cars of block were sold on the week and 27 of barrel.

The blocks inched up a quarter-cent Monday and stayed there Tuesday at $1.41. The barrels were up a penny Monday, hitting $1.32, and held there Tuesday, 9 cents below the blocks.