Daily Dairy Trading: November Milk Close 11 Cents Lower, Tuesday30 October 2013
US – Little change was reported in the October spot or futures markets, although November milk was reported as closing 11 cents lower at $18.63.
Also in the futures markets, October Nonfat Dry Milk finished unchanged on $1.8375 and Butter remained on $1.5450.
Spot prices saw all commodities unchanged. Butter was rooted to $1.4750 and Cheddar Blocks and Barrels stayed rooted to $1.8750 and $1.8200 respectively.
The 5.5 cents margin between the cheeses is smaller than last week, when the gap averaged 6.75 cents.
Overall, the spot market registered one bid and one trade yesterday for Grade A standard Nonfat Dry Milk, which last moved to $1.9000 and Nonfat Dry Milk Extra Grade at $1.8500.
TheCattleSite News Desk