Thursday Midday Dairy Market Summary - Cheese Runs Out of Steam

Block cheese price traded higher during spot trading, but once business was done, a late offer pushed price back to unchanged. Barrel cheese declined 2.25 cents ending at $1.62 with 9 loads traded. Price did trade higher at 1 cent before selling pressure reduced price. Butter increased 2.50 cents, closing at $1.81 with one trade setting the price. Grade A nonfat dry milk price declined 1.75 cent settling at $1.2725 with 6 loads traded, Dry whey price declined 3 cents closing at 62.25 cents with one load traded. This is the lowest dry why price since April 23rd. Class III futures are 33 cents lower to 6 cents higher. Class IV futures are 3 cents to 12 cents lower. Butter futures are 1.05 cents lower to 2.50 cents higher. Dry whey futures are 0.50 cent to 1.25 cents lower.