Spot cheese gave up more ground today, with barrels tumbling to $2.5750 per pound, down 4.5 cents, while blocks slid to $2.1900 per pound, giving up a penny. Zero lots were exchanged. Butter prices also dipped, settling at $2.9000 per pound, losing four cents.
Futures followed spot prices lower today, with Q4 Class III prices settling at $22.45 per hundredweight, 45 cents lower. Q4 Class IV futures fell to $21.99 per hundredweight, losing 17 cents.
Milk production in Germany for the week ending September 8 declined 2.2% year-over-year. UK production for the week ending September 14 also dipped 0.3%. Meanwhile, production in France increased 5.0% year-over-year for the week ending September 15.
Ever.Ag - The risk of loss trading commodity futures and options can be substantial. Investors should carefully consider the inherent risks in light of their financial condition. The information contained herein has been obtained from sources to be reliable, however, no independent verification has been made. The information contained herein is strictly the opinion of its author and not necessarily of Ever.Ag and is intended to be a solicitation. Past performance is not indicative of future results.
