US – Bidding, not trades, led to higher valuations across spot markets on Tuesday, with Cheddar leading gains.
Blocks made 4 cents, closing on $1.9200 and Barrels gained 3.50 cents, finishing on $1.8125. A 10.75 cent gap now separates Cheddar quantities.
This is according to the Agriculture and Marketing Service at the US Department of Agriculture, which also reported gains for Nonfat Dry Milk.
Grade A closed 1.75 cents higher to $2.0175 and Extra Grade gained 2 cents, closing at $1.9950.
One trade was registered for Blocks. Butter however, reported three trades, although stayed unchanged on $1.6400.
Futures prices also saw widespread gains, including a 27 cent lift in December Class III, closing at $18.86. Class IV finished on $21.35 after making 11 cents.
December Cheese gained three cents moving from $1.8270 up to $1.8850. Nonfat Dry Milk closed 4.48 cents higher.
December Butter closed 3 cents higher to $1.6000.
TheCattleSite News Desk