Daily Dairy Trading: Spot Butter Drops 2 Cents, Wednesday20 June 2013
US – Butter plummeted 2.25 cents a pound for grade A standards yesterday settling at $1.5075, say USDA spot price reports.
This leaves butter below last week’s average of $1.5400.
Cheese barrels also carried losses from Tuesday, closing at $1.7500 – down a cent as part of a general drop in spot prices over recent days.
Cheddar blocks, were unchanged on $1.7250 and both standards of Non-fat Dry Milk were unchanged.
At the close Class III and IV Milk split with a two cent rise and five cent drop leaving June futures on $18.04 and $18.98 respectively.
Cheese settled back on Monday’s price of $1.7770 and Whey lifted slightly, closing the day on $0.5750.
TheCattleSite News Desk