Block cheese price continued lower with price declining 4.25 cents, ending at $1.5775 with 2 loads traded. This is the lowest price since May 13. The hopes of a rebound in price moving the market into an uptrend has been negated with concern now that further downside may yet unfold. Barrel cheese price slipped 0.75 cent, closing at $1.4050 with 6 loads traded. Class III futures were not able to hold any gains from Tuesday with contracts through July posting losses of 1 to 27 cents. Later contracts show some minor gains. Butter price gained 4.75 cents, closing at $1.4575 with 6 loads traded. The increase in butter has been a surprise, but welcome. Demand is strong with buyers taking advantage of good prices. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.15 with no loads traded. Dry whey price increased a penny to 45 cents with 2 loads traded. Class IV futures show the March contract traded 34 cents higher, but that was overnight. The current bid and offer is far below that price. No other contracts have traded. Butter futures are steady to 3.05 cents higher. Dry whey futures are 0.05 cent lower to 0.45 cent higher.
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