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Daily Dairy Trading: Butter Unchanged After Friday's Spot Surge, Monday

04 March 2014

US – Butter remained at $1.8800 on Monday with no trading activity reported from the spot floor following Friday’s 10 cent leap.

Bidders opened the week by ignoring Butter. Instead, the Chicago Mercantile Exchange reported two spot floor trades only – both for Non-fat Dry Milk which slipped over a cent lower to $2.0275.

All spot value are above the prior week average.
Cheddar Barrels reported a heavy loss, down four cents to $2.1600.

Contrastingly, Blocks inched higher to $2.2275.

Futures closed mostly lower, although some profit taking was reported in near months for milk.

March Class IV lifted fractionally to $23.14 with losses thereafter, including 23 cents for April at $22.80, 27 cents for June at $21.53 and 20 cents for July at $21.44.

March Cheese settled lower on $2.141 well in advance of April which was left on $1.980 after closing around half a cent lower.

Butter futures reported losses through to June with deferred contracts unchanged. March closed down at $182.000 and April finished at $181.550.

Milk powder posted losses throughout the year. March finished at $204.650 and April closed on $201.475.

Michael Priestley

TheCattleSite News Desk

Top image via Shutterstock

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