Daily Dairy Trading: Butter Stays High, Class III Milk Increases Again, Friday13 January 2014
US – Spot price Butter reported two trades at the week’s high of $1.6750 as Nonfat Dry Milk recorded losses on Friday.
The Week’s trading ended with Butter over five cents higher than its Monday close of $1.6200 and above the prior week average of $1.5413 after nine trades.
This contrasted with losses of 1.25 cents and 1 cent for Grade A NDM and Extra Grade NDM respectively which sold well as prices dipped.
Agricultural Marketing Service reports from the US Department of Agriculture listed five trades for Grade A NDM and one trade for Extra Grade.
A small decrease in NDM was also seen in the futures market, which closed on $2.0100.
Elsewhere, January Class III milk continued steady gains on Friday, lifting eight cents to $20.50 from $20.42, up from Monday’s close of $20.06.
Class IV January milk closed lower on Friday, after following Class III with gains throughout the week. The value declined four cents, finishing on $21.90.
Cheese and Whey futures both edged higher.
TheCattleSite News Desk