Block cheese price declined 3.75 cents, closing at $1.53 with six loads traded. All the loads were traded at the closing price. Barrel cheese price declined 5 cents, closing at $1.57 with six loads traded. Barrel price is at the lowest level since April 6. As with blocks, all the loads were traded at the closing price. There were two uncovered offers for blocks remaining at the close. There was an unfilled bid for a load of blocks. Butter price remained unchanged at $1.81 with no loads traded. Grade A nonfat dry milk rebounded 2 cents, closing at $1.2925 with one load traded. Dry whey price remained unchanged at 62.25 with no loads traded. Class III futures are again being hit hard with contracts 12 to 42 cents lower. Class IV futures are 12 to 20 cents higher. Butter futures are 0.75 cent lower to 1.05 cents higher. Dry whey futures are 0.75 cent lower to 0.25 cent higher. USDA will release the April Agricultural Prices report Friday, which should show a significantly lower income over feed level, resulting in a large Dairy Margin Coverage payment.
