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.
calendar icon 28 March 2014
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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

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