Daily Dairy Trading: Cheese Prices Lift Despite Barrel Slide, Thursday
US – Cheese futures and spot price Blocks both settled higher on Thursday as Barrels continued their steady slide.
4 April 2014
1 minute read
Blocks slipped 3.75 cents to $2.4225, although no spot trades have been registered for the week, according to the latest Agricultural Marketing Service data.
April Cheese lifted 14 cents to $2.435 with Cheese contracts above $2 until August, which closed 14 cents higher at $1.986. Biggest gains - of 30 cents - were reported for May and June at $2.204 and $2.060.
Thursday’s trading saw Barrels slip lower to $2.2300, extending the decline from last month’s peak at $2.3775.
Major depreciation has been reported for spot Butter, dropping three cents this week from $2/pound to $1.9700.
This was reflected in Butter futures, which closed mostly lower. August closed 2.250 cents down at $186.000.
Non-fat Dry Milk held at $1.9975, where it has stabilised after falling south of $2 on Tuesday.
Meanwhile, the futures market reported a mixed day for milk powder with May unchanged at $189.500.
Class III milk made moderate gains across the front months as May and June both lifted 34 cents at $22.70 and $21.07 respectively.
Class IV fared differently with many contracts unchanged and June slipping a cent to $21.11.
Michael Priestley
News Team - Editor
Mainly production and market stories on ruminants sector. Works closely with sustainability consultants at FAI Farms
