Block cheese price declined 4.25 cents closing at $1.6175 with 7 loads traded. Barrels declined 2.75 cents closing at $1.42 with 2 loads traded. This put substantial pressure back on Class III futures with contracts steady to 44 cents lower. March is posting the greatest loss. Futures activity has increased but remains rather light. Butter price declined 2.75 cents closing at $1.47 with 7 loads traded. Grade A nonfat dry milk price increased a penny to $1.1325 with 14 loads traded. Dry whey price increased a penny to 55.75 with one load traded. Class IV futures are 4 cents higher. Butter futures are 0.25 cent to 2.02 cents higher. Dry whey futures 0.17 cent to 0.80 cent higher. The weakness of cheese and butter increases trader caution again. USDA will release the January Agricultural Prices report Friday. Significant Dairy Margin Coverage payment are expected again.
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