Prices

Block and barrel cheese prices have been resilient

While the dairy complex was generally weaker Thursday, Class III futures consolidated amid lighter volume and finished modestly higher. While producer selling is light, commercial buy interest appears to be underpinning the market through the first half of 2012. FULL STORY »

More cheese in Chicago, but buyers welcome sellers

Class III finished on a weaker note yesterday on improved volume from Tuesday’s anemic session with over 1,280 contracts trading hands. While the day started off on a high note with prices rallying in pre-spot morning trade, the declining block and barrels prices in the spot session quickly sent futures into negative territory. FULL STORY »

Fresh news yesterday leans to market bearishness

Volume was so low yesterday that you would have thought it was still a holiday. There was plenty of data to digest throughout the day, it should have encouraged trading; maybe traders were waiting to see the dairy products report? FULL STORY »

Block price drops for first time in nearly a month

Friday was essentially a trading holiday as market participants were on vacation in mass. Volume Friday was lackluster from a complete trade perspective. But it does appear that for a second consecutive day, sell-side hedgers funneled, or at least tried to funnel, into the market place. FULL STORY »

Corn collapses on USDA data; Class III shows vulnerable side

Spot prices held steady Thursday and, despite a sole bid in the blocks, futures prices fell. Simply put, you have to feed the bull and it went hungry yet again following days of nothing in the style of significant spot cheese price increases. FULL STORY »

Class III futures edge higher

Wednesday was marked by heavier trading volume for Class III, with more than 1,400 contracts trading hands in a modestly higher trade. While price strength was more pronounced in the September through November contracts due to strength in the dry whey market and, perhaps, a meager attempt to narrow the massive monthly spreads, the lion’s share of trading — 581 contracts — was reserved for the July contract. FULL STORY »

Block cheese unchanged at $2.13

The Class III market was active early, but took on the tone of the quiet spot market yesterday afternoon, failing to eclipse the 1K mark, trading just 954 contracts on the day. The market rallied sharply early on, led by July to Oct prior to the spot session. FULL STORY »

Class III posts modest gains

Still at a discount, Class III futures kicked off the last week of June on a stronger note as futures edged higher on 1,125 contracts. Follow-through buying from Friday, along with a reluctant push to narrow the margin between spot and futures, were the primary fundamental reasons for Monday’s advance in the nearby months. FULL STORY »

Stable spot market boosts July/August futures

There was surprising buy side strength in Class III to close the week last week. An offer took a while to make its way into the spot market Friday, but it was the first action. FULL STORY »

Broad-based commodity weakness Thursday; dairy futures decline

Class III prices couldn’t stand up in front of another unchanged cheese spot session — you’ve got to feed the bull to keep him alive; he hasn’t eaten in a while now. FULL STORY »

Stable spot prices tug on futures

Class III finished mostly higher Tuesday on a quiet, but stable, spot cheese market and perhaps a slight recognition of firmer outside markets. The reality is that we’re beginning the five-week pricing period for July milk, and though the spot cheese price is at historically demand debilitating levels, traders find it difficult to sell into a steeply discounted market. FULL STORY »

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