Block cheese price was bid up right out of the gate moving up to $1.51. However, price did not hold there as price closed at $1.5050, up 4.75 cents from Wednesday with 6 loads traded. Barrel cheese price increased a penny. closing at $1.6075 with 2 loads traded. Butter price increased 0.25 cent settling at $1.7925 with 13 loads traded. Grade A nonfat dry milk price declined 1.50 cents closing at $1.30 with 6 loads traded. Dry whey price remained unchanged at 62 cents with no loads traded. One would have thought Class III futures would be significantly higher due to blocks increasing. However, futures are mixed ranging from 8 cents lower to 10 cents higher. Class IV futures are 5 cents higher. Butter futures are 0.02 cent to 1.50 cents lower. Dry whey futures are 0.27 cent lower to 0.45 cent higher. USDA raised their estimate for milk production this year to 228.5 billion pounds and raised production for 2022 to 231.1 billion pounds on the World Agricultural Supply and Demand report Thursday.
