Daily Dairy Trading: Cheddar Gap Closes as Class III Milk Posts Gains, Thursday01 November 2013
US – Moderate market action narrowed the Cheddar gap to four cents following a lift of 3.5 cents from Barrels yesterday.
Spot price for Cheddar blocks increased 1.5 cents to $1.8500, closer to Blocks at $1.8900. This has shrunk the gap between Cheese commodities as Barrels has lifted at a faster rate than blocks.
Nonfat Dry Milk Grade A standard expired one cent higher at $1.9100 leaving it six cents above Extra Grade which has ran unchanged with no trades for the week, after last week’s gains.
November futures opened the month with a 17 cent gain for Class III milk, closing at $18.79. The price is brought back and beyond Monday’s $18.74 value after losses on Tuesday and Wednesday.
Class IV has lost ground every day this week, moving from 20.64 cents from Monday’s close to terminating at $20.44 yesterday, the biggest loss being a 12 cent dip on Tuesday.
Whey closed a cent lower over two day’s losses after a prolonged period on $0.5800 as Butter fluctuated throughout, finishing Thursday at $1.5243
TheCattleSite News Desk