Block cheese price declined 4.25 cents closing at $1.76 with 3 loads traded. Barrel cheese price fell 7 cents closing at $1.7750 with 1 load traded. Only offers were left on the board at the close of spot trading. Sellers wanted to move product and continued to lower prices with difficulty finding buyers. This pushed Class III futures substantially lower with futures ranging from 1 cent to 75 cents lower. June shows the greatest loss. This is a blow to those who anticipated milk futures to continue higher due to escalating grain prices. Butter price increased 1.25 cents closing at $1.7475 with 4 loads traded. Grade A nonfat dry milk price declined 1.25 cents ending at $1.3450 with 5 loads traded. Dry whey price remained unchanged at 54.75 cents with no loads traded. Class IV futures are steady to 26 cents higher. Butter futures are 0.15 cent lower to 2 cents higher. Dry whey futures are 1.50 cents lower to 0.75 cent higher.
