Daily Dairy Trading: Class III Posts Further Gains, Tuesday15 January 2014
US – Class III January milk continued soaring, closing six cents higher to $20.72 on Tuesday.
The Chicago Mercantile Exchange reported highs of $20.75 from a $20.66 open price, showing narrow price movement.
This was part of a buoyant futures market, reports the Agricultural Marketing Service.
February Class III milk closed on $20.46 and closed 47 cents higher at $21.01.
Class IV milk closed up three cents and 26 cents for January (up to $22.05) and February (up to $22.80) respectively.
January Cheese and Whey also closed higher, edging to $2.035 and $0.6006. Butter and Nonfat Dry Milk also lifted marginally.
The spot markets reported a four cent gain in Butter, with the other mover being Cheddar Barrels, closing up to 0.25 cents to $2.1625.
Three trades were behind the Cheddar lift while one bid saw Butter step to $1.7400, ten cents above the prior week average.
TheCattleSite News Desk