Dairy Product Prices Choppy

WASHINGTON - May 24/02 - STAT -- Lower milkfat values contributed to the choppy tone seen in dairy product prices in recent weeks, judging from price data compiled for the week ending May 18 by the USDA.

Milkfat prices received for sweet cream with a fat content of 38 to 50% for the weeks ending May 18 and May 11 are as follows, respectively: Class II $1.42, $1.43; and All Classes $1.42, $1.43.

Cheddar Cheese prices received for US 40 pound Blocks averaged $1.22 per pound. The price per pound decreased 1.6 cents from the previous week. The price for US 500 pound Barrels adjusted to 38% moisture averaged $1.21 per pound, down 2.3 cents from the previous week.

Butter prices received for 25 kilogram and 68 pound boxes meeting USDA Grade AA standards averaged $1.04 per pound. The U.S. price per pound increased 1.0 cents from the previous week.

Nonfat Dry Milk prices received for bag, tote and tanker sales meeting USDA Extra Grade or USPH Grade A standards averaged 89.9 cents per pound. The U.S. price per pound increased 0.2 cents from the previous week.

Dry Whey prices received for bag, tote and tanker sales meeting USDA Extra Grade standards averaged 17.1 cents per pound. The U.S. price per pound decreased 1.3 cents from the previous week.

                 United States -- Dairy Product Price Summary
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                    :                        Week Ending
  Style and Region  :-----------------------------------------------------------
                    :  May 18,  :  May 11,  :  May 4,   :  Apr 27,  :  Apr 20,
                    :   2002    :   2002    :   2002    :   2002    :   2002
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                    :                         Dol./Lb.
Cheddar Cheese      :
   40 Lb. Blocks    :    1.2181      1.2344      1.2331      1.2303      1.2296
   500 Lb. Barrels  :    1.2679      1.2894      1.2948      1.2888      1.2764
Butter              :    1.0428      1.0329      1.1098      1.1283      1.1537
Nonfat Dry Milk     :    0.8992      0.8973      0.8931      0.8968      0.8967
Dry Whey            :    0.1714      0.1841      0.1812      0.1865      0.1957
Milkfat Prices      :
   Class II         :   1.4193    1.4332    1.5302    1.5337    1.5498    1.5978
   All Classes      :   1.4248    1.4253    1.4996    1.5014    1.5158    1.5450
Milkfat Purchases   :
   Class II         :1,563,102 1,726,018 2,800,235 2,494,238 3,048,298 2,883,587
   All Classes      :3,656,164 3,816,419 5,631,952 6,237,563 7,566,111 7,140,706
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