Block cheese price increased 9.75 cents, closing at $1.6750 with 15 loads traded. There were 3 unfilled bids remaining at the close. Price initially moved to $1.6875 before slipping back. Barrel cheese price jumped 15.25 cents, closing at $1.6250 with just one load traded. Price initially moved to $1.66 before selling moved the market off its high. There were 2 offers remaining at the close of spot trading. It seems buyers of the physical product were just as excited as traders of Class III futures. Futures were locked limit up in January through May contracts prior to spot trading and then added June to the mix after spot trading. Double-digit gains are seen in all contracts that have traded, except front-month December as that month is basically priced. Butter price increased 4.50 cents, closing at $1.52 with 2 loads traded. Butter was somewhat similar to cheese in that price slipped back from its high during spot trading. Grade A nonfat dry milk slipped 0.25 cent, closing at $1.1475 with 2 loads traded. Dry whey price increased 1.25 cents, closing at 46.75 with no loads traded. Class IV futures are 11 to 20 cents higher. Butter futures are 0.45 to 3.22 cents higher. Dry whey futures are 1.15 to 1.77 cents higher. USDA will release the November Cold Storage report Tuesday afternoon.
