Cheese prices followed the same pattern as Monday. Block price increased 0.75 cent, closing at $1.59, with two loads traded. Barrel cheese price remained unchanged at $1.39 with no loads traded. Butter price jumped 8.25 cents, closing at $1.2925, with nine loads traded. The strength of blocks has had little change on Class III futures with only February and April showing gains. February is up 20 cents as it tries to remain in line with underlying cash. April is up a penny with the rest of the contracts unchanged to 9 cents lower. Traders still seem to be viewing this as a short-term bounce. Class IV futures have not yet traded despite the large increase of butter price. Grade A nonfat dry milk is 1.50 cents lower, closing at 1.1375, with eight loads traded. Dry whey price remained unchanged at 53.50 cents with no loads traded. Butter futures are 0.12 cent to 4.75 cents higher. Dry whey futures are 1 cent lower to 0.08 cent higher. The Global Dairy Trade auction trade-weighted average increased 1.8% Tuesday.
