Block cheese price declined 2.25 cents closing at $1.5350 with 5 loads traded. Barrel cheese price gained 3.25 cents closing at $1.4450 with one load traded. The price calculation for Class III is based on a weighted average that is weighted more heavily to barrels. So, the movement of barrels adds more value to milk pricing if there is a gain. If price declines, it is more detrimental. Butter price declined 1.50 cents closing at $1.2775 with 13 loads traded. Sellers moved the amount of product they wanted to as here were only 2 unfilled bids remaining at the close. Grade A nonfat dry milk price declined 2 cents to $1.09 with 6 loads Dry whey price remained unchanged at 53.50 cents with no loads traded. Class III futures are 8 cents lower to 4 cents higher. Class IV futures are 17 cents to 18 cents lower. Butter futures are 0.50 cent lower to 2.97 cents higher. Dry whey futures are unchanged to 0.88 cent higher. USDA will release the December Dairy Products report Thursday, which will show production of dairy products for the month.
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