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Daily Dairy Trading: Spot Prices Surge, Thursday

15 November 2013

US – Price recovery was seen across Chicago spot markets as active trading pushed prices up to 4.5 cents higher and bidding suggested strong demand elsewhere.

Butter led the charge, with four trades lifting the price 4.50 cents higher by the close to $1.6500, maintaining the increase for the week, according to the Agricultural Marketing Service.

Butter values are currently over nine cents above last week’s average.

Cheddar Barrels remained unchanged as Blocks lifted 1.25 cents, widening the gap to 5.50 cents between the cheeses, both reporting four trades each.

Nonfat Dry Milk closed higher, almost reaching $2 for Grade A standards at $1.9750, after increasing every day this week. A three cent lift was reported for Extra Grade, closing 3 cents higher at $1.9000.

Futures closed mostly lower. Class III and IV November Milk both dropped two cents after both increasing five cents on Wednesday, finishing on $18.83 and $20.57.

Cheese continued to track at $1.8620 and Butter at $1.5400, but Whey edged higher, closing at $0.5750.

Minor losses were reported for Nonfat Dry Milk – closing at $1.8750.

 

TheCattleSite News Desk



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