Daily Dairy Trading: Cheese Returns to February Highs, Monday
US – Dairy markets opened the week boldly with gains for Spot commodities and many futures contracts.
18 March 2014
1 minute read
Major price action was seen for Class III futures which closed 75 cents for April, May and June. March contracts lifted 20 cent to $23.49.
Class III April settled at $23.12, while July and August lifted over half a cent to close on $20.59 and $20.38 respectively.
Class IV milk slipped to $23.55 as contracts closed mixed.
On the spot floor, cheese prices have returned to February highs.
Five trades saw Barrels lift 4.25 cent to $2.3045. However, this did not narrow the Block-Barrel spread, as a bidder called for Blocks 3.75 cents higher at $2.4000.
Butter closed up at $1.9000. In the futures market the Chicago Mercantile Exchange reported higher prices for Monday’s close.
March and April closed on $184.750 and $186.750 respectively – the day’s high for April.
Spot Non-fat Dry Milk held at $2.0400 and finished mixed in futures trading. April closed at $2.0475 with March ahead at $208.575.
TheCattleSite News Desk
