Daily Dairy Trading: Spot Cheese Rockets 11 Cents, Wednesday
US – Barrel Cheddar price shot 11 cents higher on the spot floor yesterday to $2.2425.
6 March 2014
1 minute read
This is according to Chicago Mercantile Exchange reports which also described a one cent rise in Blocks at $2.2375.
This narrowed the Block-Barrel spread to within a cent.
Grade A milk powders held at $2.0275.
Strong Butter trades were reported as Butter held firm at $1.8800, ahead of March Butter which closed on $1.8345 unchanged.
Butter futures closed higher for the rest of the year barring September. April Butter lifted to $184 and May on $182.
Class III Milk closed higher. Major gains were seen in April and May, up 28 and 30 cents respectively to $20.54 and $19.91.
Class IV finished mixed with gains for the front three contracts, June unchanged and prices slipping thereafter.
March settled at $23.18 and April closed up 12 cents to $22.68.
Cash-settled Cheese futures closed with gains for March at $2.163. Cheese futures closed with gains until August.
Milk powder futures slipped across the summer contract but reported gains taking April to $200.000.
TheCattleSite News Desk
