Block cheese price declined 1.75 cents closing at $1.5750 with no loads traded. There were 3 offers for blocks remaining at the close. Barrel cheese price declined a penny closing at $1.39 with 15 loads traded. There were 7 unfilled bids and one uncovered offer remaining at the close. The fact that there were that many unfilled bids may be the reason Class III milk futures are holding slightly higher. This could indicate there is greater buying interest developing at this level. The concern is that the amount of trading activity seen Thursday and price still slipping does indicate sellers continue to have product to move and are not holding back for higher prices. Butter price declined 1.25 cents closing at $1.2675 with 12 loads traded. Sellers are not holding back and need to move product in order to manage inventory. Grade A nonfat dry milk price increased 0.75 cent closing at $1.1725 with one load traded. Dry whey price increased 2 cents closing at 53 cents with one load traded. Class III futures are 9 cents lower to 10 cents higher. Class IV futures are 1 cent to 4 cents higher. Butter futures are unchanged to 0.50 cent lower. Dry whey futures are 0.32 cent to 1.48 cents higher.
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