Block cheese price remained unchanged at $1.80 with no loads traded. There was only one offer posted during spot trading. The offer was initially higher and then reduced to the closing price. Barrel cheese price declined 2.50 cents ending at $1.49 with 4 loads traded. One uncovered offer remained on the board. Butter price remained unchanged at $1.71 with no loads traded. Grade A nonfat dry milk price slipped 0.50 cent ending at $1.1650 with 2 loads traded. Dry whey price increased 0.75 cent closing at another new high for this move. It is the highest price since the week of Feb. 17, 2007, when only the weekly NASS prices were recorded. Class III futures are 13 cents lower to 10 cents higher. Class IV futures are 14 cents lower. Butter futures are 0.02 cent to 1.50 cents lower. Dry whey futures are 0.50 cent to 1.05 cents higher. USDA will release the February Milk Production report Thursday. I estimate milk production to up 1.5% from the previous year and cow numbers to increased 2,000 head from January.
