Daily Dairy Trading: Cheese Gap Narrows as Barrels Push Over Three Cents Higher, Tuesday23 October 2013
US –Cheddar Barrels rose to bridge the gap with Blocks yesterday, as one trade recorded a price of $1.7925, a 3.25 cents increase.
Chicago analysts have reported the spot price Cheddar gap as shortening to 6.5 cents after multiple weeks of expansion.
The current gap is close to the difference in average prices last week. Currently, Blocks stand at $1.8575.
In futures trading, October Cheese edged higher, closing up 0.30 cents to $1.8050.
The only other spot price mover was Butter, also closing higher, with four trades. This lifted value to $1.4700.
Milk futures saw Class III October milk close one cent higher to $18.25 whereas Class V finished on $20.15, down two cents.
TheCattleSite News Desk