Spot cheese trading was slow to begin with lower bids and higher offers being place. Eventually, buyers became more aggressive for barrels with price increasing 1.75 cents, closing at $1.53, with one load traded. Block cheese price remained unchanged at $1.7750 with no loads traded. Class III futures are unchanged to 15 cents higher with May posting the greatest gain. However, contracts have slipped back from their highs established prior to spot trading. Butter price declined 0.75 cent, closing at $1.8375, with two loads traded. Price initially fell 4 cents before a trade was made. Buyers then became more aggressive with the other trade taking place at the closing price. There were two unfilled bids at lower prices with an uncovered offer above the market at the close. Grade A nonfat dry milk price declined a penny to $1.18 with no loads traded. Class IV futures are 16-19 cents lower. Butter futures are 2 cents lower to 1.02 cents higher. Dry whey futures are 0.40 cent lower to 1 cent higher.
