Block-barrel gap closed to just ½ cent.
U.S. prices are below global levels.
Finishes two week run of up 20 cents, down 15, and now back up another 16 cents.
Class III markets follow block and barrel rallies. Spread now less than a dime.
The weakness that was shown in Monday’s CME spot dairy product session carried over into Tuesday’s trade.
Some of the downward pressure can be put on a strengthening U.S. dollar
All CME product prices down on Friday
Skeptical farmers aren’t likely to take any changes to the program at face value.
Butter now at highest point since December 2015.