Block cheese declined 4.75 cents closing at $1.91 with no loads traded and 4 offers remaining at the close of trading. Barrel cheese price fell 7 cents closing at $1.58 with one load traded and one offer remaining at the close. This was a surprise to most as it was anticipated purchasing for the Food Box program was going to continue to move prices higher. There remains a certain amount of optimism despite the decline as Class III futures are mostly higher. February through April post double-digit gains as the market corrects from the large losses Tuesday. Class III futures are 7 cents lower to 24 cents higher. Butter price declined 2.25 cent closing at $1.2875 with 3 loads traded. This moves price back to the lowest level since May 6. Grade A nonfat dry milk gained 0.25 cent closing at $1.1875 with 8 loads traded. Dry whey price increased a penny to 51 cents with 2 loads traded. Class IV futures have not yet traded. Butter futures are 0.47 cent to 3.75 cents lower. Dry whey futures are 0.40 cent to 0.75 cent higher.
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