Traders waited for spot cheese trading with much anticipation. They were hoping for strength in underlying cash. Strength was confined to barrel cheese and dry whey. Barrel price increased 0.25 cent closing at $1.5425 with one load traded. Block cheese price remained unchanged with no loads traded. Only an uncovered offer for a load of blocks remained at the close. Butter price declined 0.50 cent ending at $1.71 with 2 loads traded. Price initially dropped to $1.6925 and then recovered but could not move back to Monday's level. Grade A nonfat dry milk price remained steady at $1.1725 with 3 loads traded. Dry whey price increased 0.25 cent closing at 59.75 with no loads traded. Class III futures are 15 cents lower to 2 cents higher with the only gain shown in front-month March. Class IV futures have not yet traded. Butter futures are 0.17 cent to 0.97 cent lower. Dry whey futures are 0.45 cent lower to 0.25 cent higher.
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