Wed, 22 Jan 2014
US – Dairy values showed no signs of letting up after the trading break for Martin Luther King Day.
February Class III milk closed 48 cents higher, settling at $22.40 after opening at the day’s low of $21.92. The March contract settled 56 cents higher at $21.05.
February and March Class IV milk closed up 11 and 24 cents to $23.56 and $23.43 respectively.
February Cheese extended its January run of large gains closing up 48 cents to $2.178/lb. The biggest lift was seen for April, up 58 cents to $1.943.
Whey closed on $0.63/lb and Nonfat Dry Milk closed on $2.0350.
Butter finished $3 higher at $193.00 for February, over a cent above the March contract which settled on $191.975, up 4.9 cents.
Spot markets made gains across the board, the biggest being a 1.75 rise in Butter, which closed on $1.8700.
Final prices for Nonfat Dry Milk were $2.0950 for Extra Grade and $2.1025 for Grade A.
Thirteen trades were reported for Grade A. Elsewhere, no trading took place.
Cheddar lifted 1.25 cents which moved Blocks to $2.2425, 2.75 cents ahead of Barrels which closed on $2.2150.