Dairy markets: Last week’s recap

 Resize text         Printer-friendly version of this article Printer-friendly version of this article

Editor’s note: This market commentary is provided by the Dairy Division at FCStone in Chicago, Ill.

The average Q1 2014 Class III futures pack settled Friday at $21.90/cwt., down 8¢ for the day, while gaining 58¢ week over week.

Cash cheese futures settled mixed on Friday. Q1 2014 cheese futures closed out the week at $2.1507/lb., down 0.33¢ for the day, but 6.94¢ higher week over week. 

Average Q1 2014 dry whey futures closed Friday at 61.33¢, down 0.5¢ on the week.

Average 2014 Class IV futures finished unchanged to lower on Friday, with average Q1 2014 futures slipping  3¢ to settle at $22.87/cwt., yet added 4¢ week over week. 

Average Q1 2014 NFDM futures closed Friday at $2.03, up 0.5¢ on the week.

Average Q1 2014 butter futures closed Friday $1.798/lb., down 2.3¢ on the week.

 

Jan. 31 spot session results:

Block cheese: $2.36 (up 0.5¢)

Barrel cheese: $2.32 (unchanged)

Grade A NFDM:  $2.04 (down 1.5¢)

Butter: $1.88 (down 1.25¢)

 

Today's expectations:

• Class III and Cheese to open soft

• Dry Whey to open mixed

• Class IV to open steady

• Butter to open slightly lower

• NFDM to open firm

 

Grain futures

Grain markets moved higher last Friday led by the strength of the soybean contracts, with March soybeans gaining 7.75¢ to $12.83/bushel.

Today’s expectation:

• Corn to open firm

• Soybeans to open soft

 

The trading of derivatives such as futures, options, and swaps may not be suitable for all investors. Derivatives trading involves substantial risk of loss, and you should fully understand those risks prior to trading. Any reference to past performance is not indicative of future results. All references to futures/options trading are made solely on behalf of FCStone, LLC. All references to swap execution and bi-lateral swaps are made solely on behalf of INTL Hanley, LLC. FCStone, LLC will clear swaps when applicable. Swaps are only available to eligible counterparties. All observations of economic, political and/or market conditions are not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. and its subsidiaries and should be construed as market commentary. All recommendations to buy or sell a specific derivative or forecasting statements regarding market activity and the pricing thereof should be construed as a solicitation in any jurisdiction in where such an offer or solicitation would be legal. Proper context and guidance including but not limited to the particular trading objectives, financial situations and the needs of the intended audience were taken into consideration when this recommendation was prepared. Contact your account representative for specific advice to meet your specific trading preferences or goals. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. and its subsidiaries. Sources of information believed to reliable were used in preparing such observations, and no guarantee or representation regarding the accuracy of those sources has been made. INTL FCStone Inc. and its subsidiaries are not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material.



Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


348 Square Baler

A faster plungerhead (93 strokes per minute) and a heavy-duty bale case with adjustable side doors makes this the ideal ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Leads to Insight