Block cheese price declined 3 cents, ending at $1.80 with 4 loads traded. Barrel cheese price declined 1.25 cents, ending at $1.56 with one load traded. There was an offer of blocks remaining at the close with none for barrels. This has substantial pressure on Class III futures with contracts ranging from 6 to 75 cents lower. February is limit down with a small pool of traders wanting to sell, but unable to due to price being limit down. The surprise was the jump in butter price of 11.50 cents, closing at $1.4050 with one load traded. There were unfilled bids for 4 loads remaining at the close of trading with no offers. Grade A nonfat dry milk price increased 1.50 cents, closing at $1.2150 with 15 loads traded. Dry whey price increased 0.50 cent, ending at 53.50 cents with no loads traded. Class IV futures are 7 cents lower to 26 cents higher. Butter futures are 2.57 cents lower to 0.50 cent higher. Dry whey futures are steady to 1.88 cents higher. Global Dairy Trade auction trade weighted average increased 4.8% on Tuesday's event.
