Daily Dairy Trading: Massive Volumes Force Butter Up 7 Cents, Friday23 September 2013
US - The Spot Butter price rocketed seven cents higher on Friday after huge trading interest lifted the week’s volume to 67.
An active market saw Butter close on $1.6000, the highest value for the week following two step ups starting out from $1.5200 on Monday. This is well clear of the previous week’s average price of $1.4800.
No change was seen in Cheese which finished down on the week after registering no trades. For the week, Blocks closed 2.5 cents lower although stayed unmoved from Thursday’s price of $1.7950 after edging slightly down from Wednesday following a 2.25 cent decrease on Tuesday.
Grade A standards of Non-fat Dry Milk lifted 1.5 cents. This came from four trades, bringing the weekly volume to seven.
No significant change was seen in the futures market with Class III and IV September Milk both finishing on Thursday’s price of $18.14 and $19.49 respectively.
Futures Butter did not match spot price activity which hovered around $1.4600 after spending the week down from Monday’s close of $1.4615.
TheCattleSite News Desk