A spot price offer indicated plummeting cheddar barrels yesterday, dropping 7.25 cents from a spot price value of $1.7975 to $1.9150.
Not only is this the lower price for the week, it is lower than last week’s average of $1.8360.
Bidding left a 0.50 cents dent in Grade A standard Nonfat Dry Milk values, down to $1.9150. Extra Grade saw no spot price activity, rooted to $1.8600.
In futures trading, Class III November milk closed 13 cents lower to $18.76. Cheese also reported losses, fractionally lower at $1.8630.
Whey and Class IV milk were both non-movers, finishing at $20.49 and $0.5650 respectively.
Source: The Dairy Site