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Daily Dairy Trading: Cheese Returns to February Highs, Monday

18 March 2014

US – Dairy markets opened the week boldly with gains for Spot commodities and many futures contracts.

Major price action was seen for Class III futures which closed 75 cents for April, May and June. March contracts lifted 20 cent to $23.49.

Class III April settled at $23.12, while July and August lifted over half a cent to close on $20.59 and $20.38 respectively.

Class IV milk slipped to $23.55 as contracts closed mixed.

On the spot floor, cheese prices have returned to February highs.

Five trades saw Barrels lift 4.25 cent to $2.3045. However, this did not narrow the Block-Barrel spread, as a bidder called for Blocks 3.75 cents higher at $2.4000.

Butter closed up at $1.9000. In the futures market the Chicago Mercantile Exchange reported higher prices for Monday’s close.

March and April closed on $184.750 and $186.750 respectively – the day’s high for April.

Spot Non-fat Dry Milk held at $2.0400 and finished mixed in futures trading. April closed at $2.0475 with March ahead at $208.575.

TheCattleSite News Desk

Top image via Shutterstock

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