Cheese activity began slowly as buyers and sellers waited to see who was going to be more aggressive. Offers began being placed and lowered in order to find buyer interest. Block cheese fell 3 cents closing at $1.6150 with 1 load traded. Barrel cheese price fell 6 cents closing at $1.44 with 13 loads traded. Barrel price has exceeded the previous low and is now back down to the lowest level since March 24. This is not a good sign and it will be difficult for prices to regain what was lost this week. Butter price declined 0.75 cent closing at $1.6775 with one load traded. Grade A nonfat dry milk price increased 1.75 cents closing at $1.2525 with 3 loads traded. Dry whey price increased 0.25 cents ending at 53.75 cents with no loads traded. This weakness turned Class III futures lower again with August taking the brunt of the selling. Class III futures range from 30 cents lower to 2 cents higher. Class IV futures have not yet traded. Butter futures are 1.25 cents lower to 0.55 cent higher. Dry whey futures have not yet traded.
