Block cheese price declined 2.75 cents closing at $1.53 with 4 loads traded. Barrel cheese price declined 5 cents ending at $1.44 with 11 loads traded. This is the lowest block price since May 12, 2020. This certainly does not bode well for bullish traders. The anticipation of higher prices due to increasing government demand that has been providing optimism in the market seems premature. There is more price weakness as milk and cheese production exceeds demand. Butter price continues to increase, adding another 4 cents Wednesday with price closing at $1.4950 with 2 loads traded. It certainly is good to see butter price between blocks and barrels again. Grade A nonfat dry milk price declined 0.50 cent closing at $1.11 with 4 loads traded. Dry whey price gained 0.75 cents ending at 55 cents with 2 loads traded. Class III futures are 15 cents lower to 7 cents higher. Class IV futures are a penny higher. Butter futures are steady to 2.55 cents higher. Dry whey futures are 0.10 cent to 1.25 cents higher.
