Spot cheese trading was looked forward to with excitement as well as apprehension based on Friday's trading activity. Not much happened which has kept milk futures mixed. Block cheese price remained unchanged at $1.80 with 2 loads traded. Barrel cheese price declined 2.25 cents closing at $1.8125 with one load traded. Butter price remained unchanged at $1.7525 with no loads traded. Grade A nonfat dry milk price slipped 0.50 cent closing at $1.32 with one load traded. Dry whey price remained unchanged at 66 cents with no loads traded. There is concern cheese and butter prices have topped. However, that does not indicate that the market will be falling apart. It does mean that prices may move sideways to lower over the coming weeks. Class III futures range from 25 cents lower to 12 cents higher. Class IV futures have not yet traded. Butter futures are 0.50 cent to 1.50 cents lower. Dry whey futures are 1.20 cents higher.
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