Daily Dairy Trading: Spot Markets See Cheddar Fall, Wednesday22 August 2013
US – Multiple trades forced a drop in spot price Cheddar of five cents for Barrels and 3.75 cents for Blocks.
This continues losses for the week with both quantities of Cheddar 8.5 cents below Monday’s close at $1.6700 for Blocks and $1.6500 for Barrels – down from $1.7075 yesterday. This came after the biggest trading day of the week with 5 Cheddar trades overall.
Last week’s Cheddar prices averaged around $1.7600 and over.
Contrastingly, Butter lifted 0.25 cents after a quiet start to the week, closing up to $1.3625. No interest was registered for Non-fat Dry Milk which last changed to $1.8000 for Grade A and $1.7500 for Extra Grade.
Futures trading closed Class III milk up three cents to $17.96 as Class IV carried on its long run at $19.15. Class III remained under $18 since dipping below on Monday.
August Cheese edged lower at $1.7740, continuing Tuesday’s drop from Monday’s close of $1.7790.
September Class III milk closed down 37 cents to $17.19.
TheCattleSite News Desk