Daily Dairy Trading: Spot Markets See Butter Recovery05 August 2013
US – Friday’s spot calls forced Butter up one cent and Cheddar Barrels down 1.25 cents to $1.7725 after a quiet week of trades.
This lifted Butter above the week’s price of $1.4320 where it had been since falling away from highs of around $1.4835 the previous week. Last week’s average was $1.4320.
Contrastingly, Barrels have been steadily rising from the previous week’s average of $1.7285, to an average of $1.7625 this week. Like Butter this Cheddar Barrels moved once through the week, up from its position on $1.7600.
Bidding was most active for Cheddar Blocks totalling six trades for the week.
Futures closed the week mixed with Class III August milk up to $17.89 after opening on $17.82 and Class IV holding ground through the week on $19.29 after peaking on $19.34 midweek.
Building took place through the week on August Cheese.
TheCattleSite News Desk