US – Traders finished the day with both futures and spot markets higher on Monday.
The spot market Cheddar recovery was marked once again seeing Blocks up 2 cents and Barrels up 1.75 cents, closing on $2.1825 and $2.1750 respectively after lows last week.
Futures Cheese also closed higher. February edged higher while March and April lifted to consolidate a position above $2. May Cheese closed higher on $1.998/pound.
Spot market gains were also reported for Butter following four trades – up 1.50 cents - and Grade Nonfat Dry Milk which received one bid – up 0.25 cents by the Agricultural Marketing Service.
Most Butter contracts closed higher. However, the front two slipped down just shy of a cent for February and a quarter cent for March at $1.8350 and $1.7800. June was unchanged.
March Whey closed at $0.6350. Dry Whey futures went unchanged until May, which finished lower.
TheCattleSite News Desk