Correction to the morning commentary: We indicated the November Cold Storage report would be released Monday, but that is not the case. It will be released Tuesday. We apologize if this caused confusion.
Cheese price diverged for a period of time during spot trading. Blocks moved lower while barrels increased. However, barrels fell back to $1.4725 after first reaching $1.4850. Price closed 0.25 cent lower for the day with just 2 loads traded. Block cheese price declined 4 cents, closing at $1.5775 with 7 loads traded. This resulted in a bit more weakness in the market with most contracts showing losses. Butter price increased 2 cents, closing at $1.4750 with 3 loads traded. Grade A nonfat dry milk price remained steady at $1.15 with no loads traded. Dry whey price remained unchanged at 45.50 with no loads traded. Class III futures are 11 cents lower to 9 cents higher. Class IV futures have not yet traded. Butter futures are 0.50 cent lower to 0.50 cent higher. Dry whey futures are 0.43 cent lower to 0.03 cent higher.
