US – A fairly inactive trading spot market continued on Thursday, although bids left Butter and Cheddar Blocks higher at the close.
This has extended Butter’s run in the mid 60’s to $1.6600, almost five cents higher than last week’s average of $1.6105, according to the Agricultural Marketing Service reports.
Meanwhile, futures have reported November Butter at $1.5300 all week.
Little interest was shown in Cheese yesterday, with only one bid which lifted the Barrel price to $1.7600, around last week’s average and the highest price for the week.
Both standards of Nonfat Dry Milk closed tied on $1.9650, currently well ahead of recent prices for Extra Grade but representing a trough for Grade A, after losses on Tuesday.
Class III November milk lost a cent, moving down to $18.79. Class IV remained on $20.65.
Nonfat Dry Milk contract lifted from $1.8873 to $1.8870.
Another non-mover was Cheese which has been at $1.8600 all week.
TheCattleSite News Desk