Daily Dairy Trading: Widespread Lift Across Dairy Values, Friday20 January 2014
US – Trading comprehensively boosted the dairy future and spot market on Friday, leaving Class III January milk on $20.94 and Spot Butter on $1.8525.
Class III only edged three cents higher while Class IV finished up 10 cents at $22.20.
In the spot market, headlines were taken by Butter’s 4.5 cent rise, said the day's Agricultural Marketing Service report.
Although both Cheese quantities lifted, it was not by as much, Blocks closed up 0.25 cents and Barrels up 0.75 to $2.2300 and $2.2025 respectively, leaving the Cheddar margin at $2.75.
Grade A Nonfat Dry Milk, which closed over 2 cents higher at $2.0975, received ten bids, but only one trade materialised. Overall, eight trades – the most for the group spot market - were recorded for the week.
Two units of Extra Grade were traded for a final price of $2.0800.
Both standards of NDM were higher than the January futures price which ended trading unchanged ($2.0250), the only non-riser on Friday.
Also in futures, Cheese and Whey edged higher and Butter closed up to $1.6275.
TheCattleSite News Desk