Block cheese price remained unchanged at $1.57 with two loads traded. Price initially increased 0.75 cent before selling pressure brought price back down. Barrel cheese price declined 3 cents, settling at $1.3825 with one load traded. This trigged increased selling pressure in Class III futures, pushing the March contract as much as 59 cents lower. Trading activity increased significantly in closer contracts. Futures are 50 cents lower to 2 cents higher with March showing the greatest loss; front-month February shows the only increase. Butter price declined 2.25 cents, closing at $1.4875 with six loads traded. Price initially fell 6.25 cents before buying interest moved it off the low. Coming off the lows is positive, while closing lower is negative. Grade A nonfat dry milk price declined 0.75 cent, closing at $1.09 with two loads traded. Dry whey price remained unchanged at 54.75 with no loads traded. Class IV futures have not yet traded. Butter futures are 1.02 to 2.15 cents lower. Dry whey futures are steady. USDA will release the January Milk Production and Cold Storage reports Tuesday afternoon.
