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Market re-evaluating

Market re-evaluating

The cash dairy markets may be re-evaluating things after yesterday’s slippage, according to DairyBusiness Update associate editor Lee Mielke. Cash block cheese was unchanged this morning, holding at $1.7275/lb., but barrels regained 0.75¢ following yesterday’s 4.25¢ decline, and inched back to $1.7050/lb.; 3 cars of barrel traded hands at $1.70/lb., with 1 bid at $1.7050/lb. inching the price higher on the day; 1 bid of block at $1.7275/lb. went unfilled, and an offer at $1.7375/lb. was left on the board.
Following yesterday’s 6¢ plunge, butter held at $1.43/lb., on 4 unfilled bids.
Grade A nonfat dry milk remained at $1.7750/lb., with a bid and an offer going unanswered. Extra Grade remained at $1.73/lb., with no activity.
Today’s market closing prices:
Class III milk: steady¢ to -12¢ through April 2014. Based on current CME closing prices, the July-December 2013 average is $18.10/cwt.; and the 2014 average is $17.28/cwt.
Butter: unchanged at $1.43/lb.
Cheddar blocks: unchanged at $1.7275/lb.
Cheddar barrels: up 0.75¢, to $1.7050/lb.
Grade A nonfat dry milk: unchanged at $1.7750/lb.
Extra Grade nonfat dry milk: unchanged, at $1.73/lb.
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