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Daily Dairy Trading: Milk Futures Close Mostly Higher, Tuesday

12 February 2014

US – Cheese futures lifted 2.2 cents as spot price cheddar closed with 2.5 cent losses for Blocks and three cent gains for Barrels.

This movement left Barrels marginally ahead at $2.1800 over Blocks on $2.1050. Cheese futures for 2014 closed higher with July and October unchanged and February up to $2.2650/pound.

Smaller spot price changes were reported by the Chicago Mercantile Exchange than had been over the previous two days. 

Nonfat dry milk was the other spot market mover, up three cents to $2.0475. In the futures market it closed unchanged on $2.0430 as March and April gains were reported amongst a mixed close.

Milk futures closed higher. February and March Class III milk lifted 26 and 49 cents respectively to close on $23.15 and $20.99 in a day which reported gains for over a year out.

Class IV contracts closed mostly higher, although the front month and August each closed down 0.01 each. March finished 14 cents higher, 43 cents behind February which closed on $23.17.

TheCattleSite News Desk

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