Daily Dairy Trading: Class IV Closes Lower as Spot Market Moves, Friday21 October 2013
US – Class IV milk closed down a further four cents on Friday, reporting 10 cent losses for the week amid great change across dairy spot prices.
All trades maintained the developing trend of the week, whether for losses or gains. For example, Butter finished on $1.4825 after losing ground each day, finishing below the week’s average of $1.5145 and the week’s opening call of $1.5425.
Cheddar, on the other hand, built slowly from $1.8150 to close on $1.8575. This coincided with small losses for Cheddar Barrels leaving a 9.5 cent gap between the two.
Barrels made small 0.25 losses and the cent made by Blocks on Friday conclude a week in which each closes above the prior week average.
Elsewhere, gains were seen for Nonfat Dry Milk Extra Grade, valued 2 cents higher by one bidder, lifting prices to $1.8200. Grade A lifted 0.75 cents to close on $1.8600.
Futures traders caused inconsistency in Class III Milk values through the week as losses were made on Tuesday and Thursday and gains were made in between, closing the week four cents higher overall and two cents up on the day at $18.25.
As reported, Class IV Milk posted losses for the week, while October Cheese made gains each day before closing on $1.803.
October Whey went unchanged until Friday at $0.5835 until a lower close of $0.5825. October Nonfat Dry Milk lifted from $1.8328 to $1.8340.
TheCattleSite News Desk