US – Cheddar Barrels dropped 5.75 cents to $1.7750, taking the spot price to over nine cents below Barrels.
This came after Cheddar Barrels had converged slightly, although Blocks saw no change on $1.8725, down from last week’s prices.
Butter closed 1.5 cents lower, finishing on $1.6600 after two trades. Currently, Butter is above last week’s price of $1.6410, and worth a December futures price of $1.6363.
Both standards of Nonfat Dry Milk finished unchanged on $2.0575 and $2.0225.
In the futures market, Class III December milk closed on $19.11, Class IV on $21.44 and Cheese on $1.8720. January Class III Milk closed down slightly to $18.60.
TheCattleSite News Desk