Daily Dairy Trading: February Class IV Milk Back as Class III Recovers, Thursday24 January 2014
US – February Class III milk recovered after Wednesday’s losses as Class IV fell further, Thursday.
Class III February milk closed on $22.35, the only near contract to finish higher. March and May gapped lower and April closed down 23 cents to $19.50.
Losses of 28 cents were felt on the February Class IV contract meaning a 51 cent fall since Tuesday.
Elsewhere, February Cheese futures edged higher to $2.175 while Butter and Nonfat Dry Milk both posted losses.
Whey finished unchanged again on $0.6300.
The spot market reported interest in deflating Butter and Nonfat Dry Milk prices, reporting four and eight trades respectively.
Butter finalised on $1.90, NDM Grade A closed 1.5 cents lower to $2.07.
Cheddar values gapped higher. Blocks lifted 2.5 cents to $2.2575 and Barrels by 1.5 cents to $2.2575.
TheCattleSite News Desk