MIDDAY MARKET UPDATE:
Block cheese remained under pressure again Thursday, but not to the degree of the past few days. Price declined 4.50 cents, ending at $1.5975, with one load traded. Barrel cheese price held steady at $1.40 with no loads traded. Butter slipped 0.50 cent, ending at $1.37, with two loads traded. Grade A nonfat dry milk price declined 0.75 cent, closing at $1.08, with no loads traded. Spot price activity did not provide support for the market through the middle of next year with prices ranging from 4-37 cents lower. December Class III futures have fallen well below $16 and are currently 70 cents lower January. Later contracts are mixed and are holding well. Class IV futures are 2 cents lower. Butter futures are 0.92 cent lower to 0.85 cent higher. Dry whey futures are 0.13-0.47 cent higher.
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