Daily Dairy Trading: Bidding Lifts in Spot Market as Futures Report Steady Prices

US - Bidders capitalised on spot value butter this week with six trades posted yesterday as the market finalised at $1.5000, Thursday.
calendar icon 18 October 2013
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This follows consecutive price drops and lies closely to the Cheddar block pattern this week, which has witnessed a lift in trade after a midweek price fall. 

Six trades were reported as Butter spot values closed two cents lower, leaving 15 lots traded for the week. 

Cheddar prices parted further, finishing Thursday's trading with a 8.25 cents gap as Blocks closed 1.25 cents higher to $1.8475 and Barrels fell 1.25 cents $1.7650.

A small increase was confirmed in Nonfat Dry Milk - up 0.25 cents. However, no trades were noted as Grade A standard Dry Milk closed at $1.8525. 

Dairy futures analysts reported a one cent drop in October Class III Milk, back to $18.23. The Class IV contract dropped a further two cents to hit $20.24, down six cents on the week overall. 

October Cheese continued building steadily, adding to the price of $1.7950 to $1.7980. 

Elsewhere, Whey continued flatlining on $0.5835, as did Nonfat Dry Milk on $1.8328. Butter has been steady at $1.5575 after falling 0.75 cents on Wednesday. 

 

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