US – Class III December milk fell back 25 cents and major cheddar losses were reported in the spot market on Thursday.
Downward action ended a string of positive trading days for the dairy market, in which strong gains have been seen across spot and futures commodities.
Cheddar Blocks posted losses of 7.50 cents after reporting three trades, closing on $1.8725. Barrels saw one offer and lost 5.25 cents, down to $1.8325, said the agricultural marketing service (AMS).
Despite losses, this leaves both cheeses over six cents above the prior week average.
Losses were also reported for Nonfat Dry Milk Grade A, which dropped 0.25 cents to $2.0325. This means both NDM standards stay above $2, as Extra grade broke the $2 mark, up a cent to $2.0050.
In the futures market, December Class III and IV milk closed on $18.98 and $21.44, down 25 cents and up 9 cents respectively.
December cheese reported losses of 2.40 cents, finishing on $1.8620.
Whey and Nonfat Dry Milk both went unchanged on $0.5950 and $0.5950 respectively.
TheCattleSite News Desk