Daily Dairy Trading: Butter Unchanged After Friday's Spot Surge, Monday
US – Butter remained at $1.8800 on Monday with no trading activity reported from the spot floor following Friday’s 10 cent leap.
4 March 2014
1 minute read
Bidders opened the week by ignoring Butter. Instead, the Chicago Mercantile Exchange reported two spot floor trades only – both for Non-fat Dry Milk which slipped over a cent lower to $2.0275.
All spot value are above the prior week average.
Cheddar Barrels reported a heavy loss, down four cents to $2.1600.
Contrastingly, Blocks inched higher to $2.2275.
Futures closed mostly lower, although some profit taking was reported in near months for milk.
March Class IV lifted fractionally to $23.14 with losses thereafter, including 23 cents for April at $22.80, 27 cents for June at $21.53 and 20 cents for July at $21.44.
March Cheese settled lower on $2.141 well in advance of April which was left on $1.980 after closing around half a cent lower.
Butter futures reported losses through to June with deferred contracts unchanged. March closed down at $182.000 and April finished at $181.550.
Milk powder posted losses throughout the year. March finished at $204.650 and April closed on $201.475.
Michael Priestley
TheCattleSite News Desk
