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Daily Dairy Trading: Spot Butter Highest Since 2011

27 March 2014

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.

Michael Priestley

Michael Priestley
News Team - Editor

Mainly production and market stories on ruminants sector. Works closely with sustainability consultants at FAI Farms

 


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