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Cheddar block futures closed at $1.6050 per pound and barrels at $1.46 during the second week of April, with blocks jumping to $1.63 after the Global Dairy Trade auction. Spot butter reached $2.32 per pound before slipping.
Cheese demand was reported as generally positive, while inventories were heavy but not burdensome.
Mixed cheese and butter moves with heavy inventories leave dairy price direction uncertain in the near term.
capitalpress.comLee MielkeFor the Capital PressApr 17, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
