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Daily Dairy Trading: Spot Cheese Rockets 11 Cents, Wednesday

06 March 2014

US – Barrel Cheddar price shot 11 cents higher on the spot floor yesterday to $2.2425.

This is according to Chicago Mercantile Exchange reports which also described a one cent rise in Blocks at $2.2375.

This narrowed the Block-Barrel spread to within a cent.

Grade A milk powders held at $2.0275.

Strong Butter trades were reported as Butter held firm at $1.8800, ahead of March Butter which closed on $1.8345 unchanged.

Butter futures closed higher for the rest of the year barring September. April Butter lifted to $184 and May on $182.

Class III Milk closed higher. Major gains were seen in April and May, up 28 and 30 cents respectively to $20.54 and $19.91.

Class IV finished mixed with gains for the front three contracts, June unchanged and prices slipping thereafter.

March settled at $23.18 and April closed up 12 cents to $22.68.

Cash-settled Cheese futures closed with gains for March at $2.163. Cheese futures closed with gains until August.

Milk powder futures slipped across the summer contract but reported gains taking April to $200.000.


TheCattleSite News Desk

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