date:Jun 10, 2014
fixed costs. During the quarter, the block price opened at US$2.00 and closed at US$2.39, an increase of US$0.39, compared to opening at US$1.76 and closing at US$1.69, a decrease of US$0.07 for the same period last fiscal year. This positive difference had a favourable impact on the realization of inventories. The relationship between the average block market per pound of cheese and the cost of milk as raw material was unfavourable as compared to the same quarter last fiscal year. These combine