Block cheese price increased 4.75 cents, closing at $1.6425 with 4 loads traded. Price initially moved to $1.6575 before slipping back 1 1/2 cents into the close of spot trade. Barrel cheese price gained 1.50 cents, closing at $1.42 with 11 loads traded. Butter price gained a penny to $1.5350 with 18 loads traded. Similar to blocks, price initially went higher to $1.54 before settling back into the close. Grade A nonfat dry milk price remained steady to $1.15 with no loads traded. Dry whey price increased 0.25 cent to 46.50 with one load traded. Class III futures are 30 cents lower to 10 cents higher with December the only contract showing a gain. Double-digit losses are seen through May as the market corrects more in line with underlying cash. Futures moved higher than they should have Monday relative to spot prices. Class IV futures have not yet traded. Butter futures are 0.25 cent lower to 1.22 cents higher. Dry whey futures are 0.05 cent higher to 0.03 cent lower.
