Daily Dairy Trading: Cheddar Closes Lower for the Week as Margin Opens, Friday18 November 2013
US – Cheddar closed lower through the week, although Blocks made gains as Barrels dropped, widening the margin to 6.25 cents.
This left Cheddar Blocks 0.50 cents up to $1.8200 and Barrels on $1.7575, down 0.25 cents. In the futures markets, Cheddar remained static through the week on $1.8620.
Elsewhere in the spot markets, Butter and Nonfat Dry Milk closed unchanged. Butter finished the week on $1.6500 following major gains made earlier in the week, building from $1.5625.
Nonfat Dry Milk Grade A and Extra Grade closed on $1.9750 and $1.9000.
November Milk made no significant value changes, finishing 2 cents higher for Class III and 2 cents lower for Class IV, on $18.83 and $20.57 respectively.
Whey edged higher and above Monday’s close of $0.5753, finishing on $0.5750 after a week of flux.
Butter Closed on $1.5400, a non-mover after Monday gains.
TheCattleSite News Desk