Block cheese price gained 2.50 cents closing at $1.5150 with one load traded. That load traded at the high of the day, setting the closing price. Barrels declined 0.50 cent closing at $1.4850 with 13 loads traded. Price initially moved 1.50 cents higher before selling pressure pushed price back down into the close. There have been 31 loads of barrels traded over the past two trading days. It is positive that these loads were absorbed by buyers with only a decline of 1.50 cents. The concern is that buyers are able to pick up a lot of cheese without having the chase the market. Butter price gained 5 cents closing at $1.7675 with 4 loads traded. Grade A nonfat dry milk gained 1.50 cents ending at $1.28 with 5 loads traded. Dry whey price increased 0.25 cent closing at 58 cents with one load traded. Class III futures are mixed from 5 cents lower to 16 cents higher with August showing the greatest gain. Class IV futures are 14 cents higher. Butter futures are 1.00 cent to 1.97 cents higher. Dry whey futures are 0.12 cent lower to 0.30 cent higher.
