Daily Dairy Trading: No Trades But Movement Noted Across All Markets, Wednesday17 October 2013
US – Buyers only went as far as bidding yesterday as small gains across all spot price commodities were reported.
Barrels of Cheddar edged lower, down 0.25 cents to $1.7775 after holding on $1.7800 on Monday and Tuesday and averaging $1.7405 last week.
Blocks, on the other hand, posted a cent gain, closing up to $1.8350, meaning there is a now a 5.75 cent gap between Cheddar values.
Butter was valued 0.75 cents lower, down to $1.5200, after falling each day this week from $1.5425.
The gap widened between standards of Nonfat Dry Milk means a five cent margin between Extra Grade on $1.8000 and Grade A on $1.8500.
Futures saw a four cents shift in both October Class III Milk, up four cents to $18.24, and Class IV, down to $20.26 from $20.30.
November Class III milk closed 11 cents higher on Wednesday, up to $18.28, four cents above the October contract.
TheCattleSite News Desk