Block cheese price declined 3 cents to $1.76 with an uncovered offer pushing price lower and no loads traded. Barrel cheese price declined 1.50 cents closing at $1.4375 with 2 loads traded. This weakness increases the concern for prices as we move closer to and through spring flush. Class III futures continue to erode as traders have been losing some of their previous optimism. Futures are 24 cents lower to 6 cents higher. May shows the greatest loss with contracts in 2022 showing gains. Butter price remained unchanged at $1.6650 with one load traded. Grade A nonfat dry milk price declined 1.25 cents closing at $1.14 with one load traded. Dry whey price remained unchanged at 61.25 with no loads traded. Class IV futures have not yet traded. Butter futures are 0.50 cent to 2.00 cents lower. Dry whey futures are unchanged. USDA will release the February Cold Storage report Monday afternoon. It is expected to show an increase of inventory from the previous month and the previous year.
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