Buyers were not shy about trying to purchase more cheese again, taking advantage of the price drop from last week. The rally could be running out of steam as buyers of blocks got what they needed, leaving 2 offers on the table. Block cheese price increased 2 cents closing at $1.80 with 7 loads traded. Barrel cheese price increased 5.25 cents closing at $1.7425 with 5 loads traded. Butter price increased 2 cents closing at $1.87 with 8 loads traded. Grade A nonfat dry milk price gained 2 cents closing at $1.2350 with one load traded. Dry whey price remained unchanged at 67.50 cents with no loads traded. Class III futures are 9 cents lower to 16 cents higher. Class IV futures have not yet traded. Butter futures are 0.50 cent to 2.00 cents higher. Dry whey futures are 0.50 cent to 1.10 cents higher. Milk futures have not jumped as much as would have been expected due to the gains in cash prices. Increasing cash activity may satisfy buyers rather quickly keeping upside price potential limited.
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