Block cheese price slipped 0.50 cent closing at $1.9575 with no loads traded. Barrel cheese price slipped 0.25 cent closing at $1.65 with no loads traded. The turned market sentiment immediately pushing both February and March Class III futures limit down. April and May are also taking a large hit. The pressure is not so much from a decline, but the fact that there were no loads traded. This was a surprise to traders as they did not expect weakness due to the Food Box program. This may be temporary, but it may indicate that there may be more cheese available than there had been last year to supply the increased demand. Class III futures are 5 cents to 75 cents lower. Butter price remained unchanged at $1.31 with no loads traded. Grade A nonfat dry milk price was unchanged at $1.1850 with 2 loads traded. Dry whey price was unchanged at 50 cents with one load traded. Class IV futures are 6 cents lower to 2 cents higher. Butter futures are 1.00 cent to 1.77 cents lower. Dry whey futures are 0.25 cent lower to 0.25 cent higher. The World Agricultural Supply and Demand report was bullish for grains sending prices soaring.
