Block cheese price gained 10.75 cents, closing at $1.7850 with 16 loads traded. Barrel cheese price gained 8.50 cents, closing at $1.64 with 6 loads traded. Unfilled bids remained at the close of trade, indicating further upside will take place. Butter did not follow cheese, slipping back 1.25 cents and ending at $1.4350 with one load traded. Grade A nonfat dry milk price gained 1.50 cents, closing at $1.19 with 13 loads traded. Dry whey gained 0.50 cent, closing at 48.50 with no loads traded. The market is following a similar pattern as last year in response to the Food Box program. This will push Class III prices substantially higher relative to Class IV, which will result in large negative Producer Price Differentials again for a while. Class III futures are 5 cents lower to $1.32 higher with February showing the greatest strong increasing $2.07 over the past two days. Class IV futures are 20 cents higher. Butter futures are 0.50 to 2.97 cents higher. Dry whey futures are 0.43 to 1.42 cents higher. USDA will release the November Dairy Products report Wednesday afternoon.
