Daily Dairy Trading: Butter Trades Lift Price 5 Cents02 July 2013
US – After a quiet close to spot trades last week, Butter saw four trades and changed up 5 cents per pound, closing Monday on $1.4775.
This puts values above last week’s average of $1.4450. Butter futures closed on $1.5100 for July, behind Whey which is positioned on $0.5625.
Cheese bucked the recent trend with an increase in prices of for both Blocks, up 0.25 cents to $1.6400 and Barrels, up 1.25 cents to $1.6100. This constitutes a move towards last week’s levels but ground is still to be made up with both items over 2 cents behind.
Non-fat dry milk stayed unchanged on $1.7300 for Grade A and $1.700 for Extra Grade.
Big changes were seen in July milk as Class III fell and Class IV jumped higher. July Class III milk crashed on Monday, closing down over 60 cents to $17.37 and class IV lifted to $18.92.
TheCattleSite News Desk