Block cheese price increased 0.25 cent closing at $1.5550 with no loads traded. There was an unfilled bid at the close of spot trading with no interest shown from sellers. Barrel cheese price increased 1.50 cents closing at $1.50 with 1 load traded. There seems to be a hesitancy from sellers, which may eventually result in buyers bidding higher to obtain the desired amount of cheese. However, market participants will be very cautious over any move higher. Butter price remained unchanged at $1.74 with one load traded. Grade A nonfat dry milk price increased 1.25 cents closing at $1.2575 with one load traded. Dry whey price remained unchanged at 55 cents with no loads traded. Class III futures are 12 cents lower to 12 cents higher. Class IV futures have not yet traded. Butter futures are 2.47 cents lower to 0.72 cent higher. Dry whey futures are 0.10 cent lower to 0.20 cent higher. USDA will release the May Dairy Products report Friday afternoon. This report will show the level of dairy products produced during the month.
