Both block and barrel cheese increased Thursday. Blocks gained 3 cents closing at $1.70 with 2 loads traded. Barrels increased 2 cents closing at $1.46 with one load traded. This was certainly positive for the market, resulting in Class III futures turning higher with some contracts posting double-digit gains. However, the strength has been rather limited. Futures are 4 cents lower to 19 cents higher. Only front-month March shows a loss. June shows the greatest gain. Butter price increased 1.50 cents closing at $1.7375 with no loads traded. This is the highest price since July 14, 2020. Grade A nonfat dry milk gained 2 cents ending at $1.17 with 12 loads traded. Dry whey price remained unchanged at 62.75 with no loads traded. Class IV futures have not yet traded. Butter futures are unchanged to 2.02 cents higher. Dry whey futures are 0.25 cent lower to 0.75 cent higher. USDA will release the February Livestock Slaughter report Thursday afternoon.
