CME: GDT Auction Prices Mixed

US - Barrels declined for the second consecutive day moving down 1.25¢ to $1.5375, the lowest level since 19 December, writes Alan Levitt.
calendar icon 18 January 2012
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Two loads were traded with no bids or offers remaining. Blocks remained steady at $1.5950 with no activity. Butter declined 1.75¢ to the same price as block cheese with an offer setting the final price.

Milk futures for the first half of the year declined an average of nine cents with second half contracts mixed.

Fluid milk sales in the September-November period were 13.68 billion lbs., -1.69 per cent from the prior year, according to Federal Order and California state data. In the first 11 months of 2011, organic milk sales were up 15 per cent, while conventional milk sales were down 2.2 per cent, USDA says.

Prices were mixed on the semi-monthly Global Dairy Trade auction. The weightedaverage price for SMP was $3,351/ton ($1.52/lb.), up 2.7 per cent from the 3 January event.

Winning prices for WMP averaged $3,562/ton ($1.61/lb.), unchanged from the previous event. The weighted-average price for AMF was $4,084/ton ($1.85/lb.), up 2.8 per cent. Cheddar cheese was $3,776/ton ($1.71/lb.), up 2.1 per cent. The overall trade-weighted index was up 1.5 per cent from the previous event.

Further Reading

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