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.
calendar icon 18 March 2014
clock icon 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

© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.