US – The Cheddar margin widened yesterday, meaning Blocks finished over 10 cents ahead of Barrels, according to government trading reports.
Blocks closed 1.5 cents higher at $1.8500 and Barrels dropped 0.75 cents to $1.7475, leaving a 10.25 chasm, says the Agricultural Marketing Service of the US Department of Agriculture.
This puts Block spot prices at a short term high, 2.7 cents ahead of the prior week average. Contrastingly, Barrels moved 0.75 cents lower on the earlier week.
Butter was the other spot price mover. One offer of $1.6650 was made, -1.5 cents lower than the previous bid.
Futures markets saw Class III December milk finish on $18.26, Class IV on $21.04 and Cheese on $1.7903.
Whey closed on $0.5898, Nonfat Dry Milk on $1.9103 and Butter finished on $1.5875.
TheCattleSite News Desk