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Cheese, butter higher, but Class III futures slightly lower

MARKETS: Cheese, butter higher, but Class III futures slightly lower
Cash cheese and butter moved higher in today’s trading in Chicago. Block cheese was up 0.75¢ on an unfilled bid, climbing back to $1.70/lb., the highest it has been since June 21. The barrels gained 1¢, reaching $1.69/lb., up a nickel on the week so far. 3 cars traded hands. 2 bids at $1.69/lb. were unfilled.
Butter was up 0.75¢, to $1.49/lb., on 4 trades. 1 bid at $1.45 and an offer at $1.4975 were left on the board.
Things were quiet in the powder market. Grade A and Extra Grade nonfat dry milk remained at $1.7550/lb. and $1.73/lb., respectively, with no activity.
Today’s market closing prices:
Class III milk: -1¢ to -10¢ through May 2014. Based on current CME closing prices, the 2013 average is $17.93/cwt.; and the 2014 average is $17.31/cwt.
Butter: up 0.75¢, to $1.49/lb.
Cheddar blocks: up 0.75¢, to $1.70/lb.
Cheddar barrels: up 1¢, to $1.69/lb.
Grade A nonfat dry milk: unchanged, at $1.7550/lb.
Extra Grade nonfat dry milk: unchanged at $1.73/lb.
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