Daily Dairy Cash Trading: Big Pick Up in Cheese Prices, Wednesday06 June 2013
US – Cheese figures rebounded at the close increasing along with non-fat dry milk (NDM) Grade A after an active day of trading on Wednesday.
Major price movement was seen in Cheddar Barrels which closed the day up 4.5 cents finishing at $1.7300.
Cheddar blocks rose 2.75 cents closing Wednesday on $1.7350 per pound.
After eight trades yesterday, the weekly volume for 40 pound cheddar blocks is now at 21 units.
Grade A standard Butter remains unchanged at $1.5400 per pound where it has been for some time, slightly below last week’s average price of $1.5413.
Grade A NDM lifted by half a cent to $1.6900 with Extra grade staying at $1.7000.
In the June futures market Class III milk leapt 29 cents closing on $18.03. Class IV milk continued this week’s slide, closing down by a cent at $19.03.
Spot price movements were reflected in the futures price for Cheese which finished the day on $1.7710, up $0.0280.
TheCattleSite News Desk