Daily Dairy Trading: Bidders Push Cheddar Barrels and Blocks Lower, Monday08 October 2013
US – Bidding led to a drop in cheddar spot prices yesterday after four trades pushed Barrel prices 2.75 cents lower.
Monday’s trades left Barrels on $1.7225 and Blocks on $1.7600, after falling 0.50 cents which represents the first backward movement in spot cheese for several days.
Last week, Blocks and Barrels averaged at $1.7650 and $1.7215 respectively meaning the gap between the two commodities has contracted slightly.
Butter sold for the unchanged price of $1.6150 with October futures Butter managing $1.5950 by the close.
Elsewhere in the futures market, Class III and IV milk closed at $18.05 and $20.32.
October Cheese finished the day on $1.7790.
TheCattleSite News Desk