Class III futures started off the new year with a pop this morning. But, spot cheese prices were only marginally higher, causing Class III futures to retreat from the peak. Prices still ended in positive territory. In the butter space, contacts reported that cream was widely available over the holiday weeks. Spot butter dipped today, but butter futures were undeterred, with 1H 2025 contracts on the rise.
Today’s Highlights
CME butter trading volume was relatively heavy, with 11 lots changing hands. But the spot price didn’t change much, easing by a half cent to settle at $2.5450 per pound. Spot NDM also gave up a half cent, decreasing to $1.3700 per pound, with six lots trading. Blocks ticked up to $1.9125 per pound, adding a quarter cent, with one lot exchanged. Barrels were unchanged, with no trades.
Ever Ag
January 02, 2025 05:01 PM
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