Daily Dairy Cash Trading: Cheese Loses 2 Cents, Tuesday05 June 2013
US – Cheddar blocks continued to lose value, dropping 2 cents per pound yesterday.
Movement left 40 pound Cheddar blocks at $1.7075 at yesterday’s close. A further 6 trades through Tuesday leaves 13 blocks traded this week, according to the CME’s daily dairy report.
Cheese Barrels also decreased, closing down 2.25 cents at $1.6850.
Shift in cheese values place averages for this week below last week’s block price of $1.7450, down 2.75 cents and barrel price of $1.7113, down by a 1.5 cents.
Butter remained unchanged at $1.5400 per pound, as did extra grade Nonfat dry milk at $1.7000.
However, Grade A butter values increased to $1.6850 after increasing .0050.
CME futures for June settled unchanged.
TheCattleSite News Desk