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Blocks hit three-month high

Blocks hit three-month high; Class III futures rebound from yesterday

The cash block cheese price hit the highest it’s been since May 13 this morning, according to DairyBusiness Update associate editor Lee Mielke, jumping 1.25¢, to $1.7925/lb.; 7 cars traded hands; 1 offer at $1.7950/lb. was left on the board. The barrel price was unchanged at $1.7925/lb., with 1 sale reported.
Butter held at $1.42/lb., with a bid at $1.39/lb. going unfilled.
Powder was steady. Grade A held at $1.7825/lb., and Extra Grade at $1.73/lb.. There was no activity.
Today’s market closing prices:
Butter: unchanged, at $1.42/lb.
Cheddar blocks: up 1.25¢, to $1.7925/lb.
Cheddar barrels: unchanged, at $1.7925/lb.
Grade A nonfat dry milk: unchanged, at $1.7825/lb.
Extra Grade nonfat dry milk: unchanged, at $1.73/lb.
Class III milk: higher through June 2014, with September-November 2013 contracts up 31¢ to 45¢/cwt. Based on current CME closing prices, the average for August-December 2013 is $17.74/cwt., with an overall 2013 average is $17.74/cwt.; and the 2014 average is $16.71/cwt.