Cheese prices finally increased, along with blocks, rising 1.50 cents and closing at $1.49 with two loads traded; barrel cheese price increased 2 cents, closing at $1.49 with one load traded. Traders are not buying into the price increase with Class III futures mostly lower. The market will need to prove itself before buying interest will become more aggressive. Strong and increasing milk production as shown on the May production report keeps an overall bearish attitude in the market. Butter price declined 1.75 cents, ending at $1.73 with six loads traded. This moves the price below the low of May 5 and to the lowest level it has been since March 24. This does not bode well for butter as price may be breaking out of the sideways trading range. Grade A nonfat dry milk price remained unchanged at $1.2575 with one load traded. Dry whey price increased 0.50 cent, closing at 59.50 cents with no loads traded. Class III futures are 15 cents lower to 12 cents higher. Class IV futures are 13 cents lower to 7 cents higher. Butter futures are 2.50 cents lower to 0.97 cent higher. Dry whey futures are 0.50 cent lower to 0.95 cent higher.
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