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Another good week for dairy markets

A nice close to a pretty good week in the dairy markets on Friday. Cash cheese barrels were .25 cents lower to close at $1.7675 while blocks gained 5.25 cents to $1.7725. Butter added a penny to close at $1.88 per pound.

For the week, cash cheese barrels gained 7.75 cents, blocks gained 5.25 cents, butter is two cents higher and the October, November and December Class III contracts gained an average 48 cents.

USDA reports packaged fluid milk sales in August were down 1.2 percent compared to August of 2010. Estimated sales of conventional milk increased 0.6 percent on the year while organic milk sales increased 7.5 percent.

Commercial disappearance of dairy products for the first eight months of 2011 totaled 131.2 billion pounds, 1.2 percent above year-ago levels. Nonfat dry milk use is down 3.1 percent from a year ago, fluid milk use is 1.5 percent lower, cheese disappearance is up 4.7 percent and butter use is 10.9 percent higher.

Not much new out of New Zealand on Friday, Fonterra’s plants on the North Island were still operating at reduced capacity with hopes the main gas pipeline would be fixed and they could be back at full-throttle by Monday.

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