Daily Dairy Trading: Strong Trades Carry Butter Higher, Friday02 September 2013
US – Butter and Cheese prices built through the week with the week’s spot price closing strongly, over seven cents above the prior week average.
Cheddar Blocks saw five trades force values 5.50 cents higher to $1.7825, the highest for the week and 9. 25 cents up on the prior week average. Barrels gained 6.5 cents through the week, closing on $1.7700.
Butter had three trades on Friday which inched prices 0.25 cents higher to $1.4375 and brought the trade tally to 35 for the week.
No interest was recorded for Non-fat Dry Milk which has remained on $1.8000 for Grade A standard and $1.7800 for Extra Grade from the last movement registered during the previous week.
The futures market strengthened a little. September Class III milk moved 21 cents higher to $17.83.
September Cheese moved to $1.763 from $1.7380. Non-fat Dry Milk edged higher to $1.7995 and September Butter lifted 3.75 cents to $1.4600.
Class IV milk for September closed unchanged on $19.42 from Wednesday.
TheCattleSite News Desk