Daily Dairy Trading: No Let Up in Prices, Thursday17 January 2014
US – Thursday’s spot markets closed with moderate gains across several commodities, led by Butter, up 3.75 cents.
This left Butter on $1.8075, more than ten cents above Monday’s close of $1.7000, states the Agricultural Marketing Service at the US Department of Agriculture.
Thursday’s gains follow rises of four and three cents on Tuesday and Wednesday, pushing Butter spot value over 16 cents ahead of the prior week average.
Cheddar both closed higher with Blocks lifting 2.75 cents and Barrels up 3.25 finishing on $2.2275 and $2.1950 respectively. Prices are ahead of last week.
Nonfat Dry Milk Grade A finished up one cent on $2.0750.
In the futures market, Milk showed no signs of slowing as January Class III closed 11 cents higher and Class IV finished up four cents to $22.09.
Class III settled on $20.91 after peaking at $20.95. February contracts closed up considerably at $21.79, the day’s high.
January Cheese closed up over a cent at $2.048.
However, Nonfat Dry Milk posted losses, edging lower to $2.0245.
TheCattleSite News Desk