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Daily Dairy Trading: Cheeses Gain Further Ground, Thursday

07 March 2014

US – Spot cheese prices continued the steady return to the dizzy early February heights of $2.30+ on Thursday.

Cheddar Blocks closed 4.25 cents higher to $2.2800 and Barrels closed up 0.75 to $2.2500, according to Chicago Mercantile Exchange.

This is considerably ahead of Monday’s prices. Barrels closed nine cents ahead and Barrels finished five cents clear of Monday's close at a high point for this week and last.

Milk powder also increased, up 1.25 cents to $2.0400. This follows three days holding at $2.0275.

Futures settled with major gains seen across near months as most contracts closed higher.

Class III March and April milk finished 40 and 67 cents higher, ending the day on $22.60 and $21.21.

June and July made gains in the 20’s and deferred contracts edged higher – November on $18.64.

Losses for August to October reported losses for Class IV. Nearer term, April lifted 27 cents and May finished 17 cents higher at $22.95 and $22.20 respectively.

All Cheese futures closed higher until July. March settled at $2.193 and April finished at $2.060.

April Butter closed at $184.950 following a high of $185.725. May finished on $183.000.

March Non-fat Dry Milk settled at $206.250 with April over four cents behind on $202.000.

Milk powder futures lifted until September which held at $175.600.

Michael Priestley

 

TheCattleSite News Desk



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