Block cheese price gained 4.50 cents, closing at $1.9625 with 8 loads traded. Barrel cheese price remained unchanged at $1.6525 with 4 loads traded. This moves the block/barrel spread to 31 cents as a repeat of last year seems to be taking place. Class III futures are mixed with January and February posting double-digit losses while March and April show double-digit gains. Futures are 20 cents lower to 14 cents higher. Most of the trading activity is in February, which is showing the greatest loss. Butter price fell 7 cents, closing at $1.31 with 5 loads traded. Price has moved to the lowest level since Nov. 24, which is the previous low. If it falls below this price Tuesday, it will move it back to levels last seen in early May. A decline below this level would result in the resumption of the downtrend. Grade A nonfat dry milk price slipped 0.50 cent, ending at $1.1850 with 6 loads traded. Dry whey price remained unchanged at 50 cents with no loads traded. Class IV futures are a penny lower. Butter futures are 2.00 to 4.50 cents lower. Dry whey futures have not yet traded.
