Block cheese price increased a penny to $1.5525 with no loads traded. Only one buyer showed up to the market with no sellers to be found. Barrel cheese price slipped 0.25 cent to $1.5025 $1.74$1.74 with one load traded. Butter price declined 2.50 cents closing at $1.74 with 6 loads traded. Grade A nonfat dry milk declined a penny to $1.26 with one load traded. Dry whey price declined 0.50 cent closing at 56 cents. The weakness of barrels and the decline of dry whey sets a bearish tone for the market. Class III futures are 22 cents lower to 1 cent higher. The October contract shows the greatest loss. Class IV futures are steady to 5 cents lower. Butter futures are 1.50 cents lower to 0.50 cent higher. Dry whey futures are 0.37 cent to 0.50 cent lower. The acreage report showed planted acreage at 92.70 million acres (ma) for corn and 87.60 ma for soybeans. Both of these were bullish, pushing futures substantially higher and setting the stage for a possible return to the highs. USDA will release the May Agricultural Prices report and the June Federal order class prices Wednesday afternoon.
