Daily Dairy Trading: Futures Close Higher With Spot Cheddar Dipping, Thursday
US – The recent dip in spot Cheddar prices continued on Thursday with Blocks and Barrels slipping from Monday and Tuesday’s highs.
28 March 2014
1 minute read
This was accompanied with the futures market closing generally higher.
Eleven Barrels have been sold on the spot floor this week, the Chicago Mercantile Exchange reports.
500 pound Barrels closed a cent lower at $2.3200 and 40 pound Blocks slid 1.5 cents to $2.4075.
Butter, in contrast, moved higher, lifting 1.5 cents to $1.9850.
One bid matched Non-fat Dry Milk at Wednesday’s price of $2.0225.
April Milk made major gains against losses and sideways prices reported on previous days. Class III closed at $24.03 with Class IV at $23.49 – 15 cents higher.
Class III June closed higher across most of the summer and autumn contracts. June made 33 cents at $20.65 and July settled on $20.32 – up 20 cents.
Other Class IV futures settled unchanged or marginally higher.
All Butter contract posted gains, May settling on 188.500 cents.
Cheese futures lifted across near months with April settling on $2.332 and May on $2.110.
Milk Powder futures closed with losses after June. May lifted to 193.100 cents.
Michael Priestley
TheCattleSite News Desk
