Limited Trading Activity Sees Cheddar Gains15 October 2013
US – Nonfat Dry Milk and Cheddar were valued higher by the close at the end of last week, although no trades were recorded.
Bidders suggested a two cent appreciation in Nonfat Dry Milk values, which would have taken the spot price to $1.8000 after a lengthy period at $1.8000.
Likewise, Cheddar was valued higher at $1.7825, up a cent for Blocks and $1.7525, up 1.25 cents for Barrels – this extended the Cheddar gap to three cents.
Spot market trading has been more limited this week. Cheddar has reported 19 trades all together with seven lots of Butter registering sales.
Futures prices lifted for Class III October milk while Class IV closed unchanged. This was a jump of four cents leaving prices at $18.18 and $20.30 respectively.
A 0.5 cent lift was reported for October Cheese and a small drop was noted in Nonfat Dry Milk, resulting in a reversion towards the price of $1.8300 which was seen earlier in the week.
Futures Butter continued the trend to edge lower each day this week, moving from $1.5950 on Monday to $1.5623 yesterday.
TheMeatSite News Desk