MIDDAY MARKET UPDATE:
Block cheese price declined 4 cents, closing at $1.62 with 1 load traded. There was 1 unfilled bid and 3 uncovered offers remaining at the close. Unfortunately, the bid was 4.50 cents lower than where it closed. Buyers just are not aggressive. Barrel price declined 0.25 cent to $1.4125 with 7 loads traded. Butter price gained 4.75 cents, closing at $1.41 with 9 loads traded. There were 8 unfilled bids under the market with one uncovered offer. Grade A nonfat dry milk shined Tuesday, gaining 3.50 cents and settling at $1.1450 with 12 loads traded. This is the highest price since Feb. 21 and underpinned the butter/powder complex. Dry whey gained a penny to 44 cents with 1 load traded. Class III futures are 4 cents lower to 13 cents higher with one January posting a loss. Class IV futures are 27 to 52 cents higher. Butter futures are 4.22 to 5.95 cent higher. Dry whey futures are 0.35 to 1.17 cents higher.
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