MIDDAY MARKET UPDATE:
Block cheese price continued to slowly rise during spot trading, eventually gaining 2 cents and closing at $1.68 with 1 load traded. There were no unfilled bids or uncovered offers remaining at the close. Barrels were on a roller coaster with price initially declining 1.50 cents before moving to 0.50 cent higher and finally settling unchanged at $1.40 with 10 loads traded. There were 2 unfilled bids remaining below the market at the close. Initially this did not change Class III futures from the level they were prior to spot trading. However, since then some of the losses have been trimmed with December posting a gain of 12 cents. Contracts are mixed from 9 cents lower to 12 cents higher. Butter price slipped 0.75 cent, closing at $1.31 with 3 loads traded. Price is back to the lowest level since May 8. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.0875 with 11 loads traded. Dry whey price declined 0.75 cent, ending at 43 cents with 1 load traded. Class IV futures are 6 cents higher. Butter futures are 1.00 to 3.10 cents lower. Dry whey futures are 0.40 to 0.90 cent higher.
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