Daily Dairy Trading: Spot Cheddar Peaks at $2.20 and $2.16, Wednesday09 January 2014
US - Spot Cheddar prices peaked at $2.20 and $2.16 on Wednesday following gains of nine cents and above.
Spot market Butter, Cheddar Blocks and Barrels and Grade A Nonfat Dry Milk all finished the day with higher values, closing up 3, 9, 10 and 0.25 cents respectively.
Cheddar Barrels have staged a quick recovery, moving above the $2 mark after last week’s average of $1.8825, reports the Agricultural Marketing Service.
Traders have extended the position of Blocks above $2 by almost 15 cents on last week’s average.
January dairy futures reported increases on all commodities barring NonFat Dry Milk with Class III milk finishing eleven cents higher.
Wednesday’s report showed building on Tuesday’s gains as Class III finished on $20.39 and Class IV settled five cents higher at $21.86.
Butter closed on $1.6100, closing more than a cent higher as prices inched upwards elsewhere, the exception being NDM closing at $2.0045 from $2.0060.
TheCattleSite News Desk