US – April milk futures tumbled further on a day when the spot floor drove Butter higher.
Class III milk closed down 22 cents to $23.51 for April, with Class IV slipping four cents to $23.34, reports the Chicago Mercantile Exchange.
Butter lifted 2 cents per pound to $1.9700, the highest value since the autumn of 2011.
This lift followed after edging half a cent higher on Tuesday, the highest since spot prices of the autumn of 2011, according to University of Wisconsin records.
Cheddar prices slipped. Blocks fell by one cent at $2.4225 and Barrels by three cents at $2.3300.
Light bidding was reported in the spot market as Non-fat Dry Milk closed 2.25 cents higher at $2.0225.
April Butter closed up a cent at $1.9100. Non-fat Dry Milk also edged higher to $2.0350.
April Cheese finished trading over two cents lower at $2.2910 and recorded losses for most months.
Milk powder futures closed mixed. April closed on $203.500 while May was over ten cents adrift at $193.000. June hung a further ten cents behind May at $183.050.
Summer Class III milk contracts settled lower. May closed 42 cents lower at $21.45, June ended the day down 27 cents at $20.32 and July down 22 cents at $20.12.