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Daily Dairy Trading: Spot Price Cheese Rebound, Friday

24 February 2014

US - Cheese showed signs of rebounding on Friday's spot floor after Thursday’s gains.

The Chicago Mercantile Exchange reported 3.25 cent gains for Cheddar Blocks, leaving the value at $2.1625, and 4.75 gains for Barrels at $2.1575.

Blocks were not supported by trades - just one bid - but Barrels registered two trades, taking the week’s tally to eight, the Agricultural Marketing Service has confirmed.

Futures Cheese did the same. March to November contracts closed higher.

February closed unchanged on $2.2710. March lifted to $2.118, April closed on $2.039 and May finished on $1.953.

Butter closed 0.5 cents higher at $1.7850, finalising with a weekly volume of 17 trades. 

Meanwhile, 2014 Class III and IV milk contracts closed higher.

March Class III milk finished up 30 cents on $21.79. Class IV moved six cents higher, closing on $23.30.

Class III’s biggest gains were for nearer term months, while Class IV lifted higher across the summer.

The same could not be said for Whey which reported a final price of $0.6288, unchanged on Friday but down for the Tuesday.

TheCattleSite News Desk



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