Cheddar prices fell further yesterday as Blocks almost hit $1.8000, down from last week’s average of $1.8865.
A two cent drop for blocks coincided with a lower offer made for Cheddar Barrels, down 1.25 cents to $1.7700, reports the Agricultural Marketing Service at the US Department of Agriculture.
Blocks settled on $1.8025, leaving a 3.25 cent margin between the two cheddar quantities.
There were other movers in the spot market yesterday as Butter sold well, gaining 2.25 cents to $1.5825. Currently at $1.5825, Butter is trending higher this week, above last week’s average of $1.5570.
One offer came in for Cheddar Barrels at 1.25 cents lower – finishing on $1.7700.
Values for Grade A standard Nonfat Dry Milk closed half a cent higher to $1.9500 while Extra Grade went unchanged on $1.8700.
In the November futures market, Class III milk dropped two cents to $18.80, whereas Class IV closed four cents lower to $20.54.
There was no repeat of spot price action in cheese futures which stayed at $1.8620.
Source: The Dairy Site
