US – Dairy futures took a tumble over near month contracts on Tuesday as spot Cheese lifted again, the Chicago Mercantile Exchange reported yesterday.
Bidding lifted Cheddar Barrels a quarter cent higher on the Spot floor to $2.1775. A 0.75 cent rise left Cheddar Blocks up to $2.1900.
Trades supporter a 2.25 cents rise for Nonfat Dry Milk, which closed on $2.0700, according to the Agricultural Marketing Service report.
Butter slipped half a cent to $1.7950 with three trades – seven for the week.
As for futures, Class III milk closed lower with the front month unchanged at $23.19.
March slipped to $21.85 and April was left on $20.70 after losing 51 cents, the biggest loss.
Class IV Milk closed mostly higher, although March lost five cents at $23.20. June and July finished 17 and 22 cents higher.
Cheese finished mainly with losses. March closed 2.4 cents lower to $2.1360 per pound.
TheCattleSite News Desk