Daily Dairy Trading: Buyers Move in on Butter, Tuesday18 September 2013
US – Butter sold well yesterday, closing at a spot price of $1.5200 following 20 trades.
Despite active buying, no movement was seen in the butter price since moving four cents above the prior week average of $1.4800.
Both quantities of cheddar moved 2.25 cents down. Blocks closed on $1.7975 and Barrels three cents lower on $1.7675.
In the futures market, CME reported Class III September milk as losing 2 cents at the close, finishing on $18.14.
Overall, the futures market trended downwards with Class IV milk unchanged on $19.49 and Whey unchanged on $0.5770.
TheCattleSite News Desk