Butter up, Class III Futures Mixed
Butter up; Class III futures mixed in a narrow range
Cash block cheese remained at $1.6750/lb. this morning in Chicago with an offer at $1.68/lb. going uncovered. Barrel inched down 0.05¢, to $1.6450/lb., on 2 trades. Grade A nonfat dry milk held at $1.75/lb., on 2 unfilled bids, and Extra Grade remained at $1.7250/lb., with no activity. Butter reversed three sessions of loss, jumping 2¢, to $1.48/lb. Three cars traded hands on the day.
Today’s market closing prices:
Butter: up 2¢, to $1.48/lb.
Cheddar blocks: unchanged, at $1.6750/lb.
Cheddar barrels: down 0.05¢, to $1.6450/lb.
Grade A nonfat dry milk: unchanged at $1.75/lb.
Extra Grade nonfat dry milk: unchanged, at $1.7250/lb.
Class III milk: -3¢ to +6¢ through December 2014. Based on current CME closing prices, the 2013 average is $17.82/cwt.; and the 2014 average is $17.21/cwt.