Block cheese price increased 4.25 cents closing at $1.6275 with 2 loads traded. There were 2 unfilled bids with no offers remaining at the close. Barrel cheese price gained 1.50 cents closing at $1.4175 with 5 loads traded. There was an unfilled bid and uncovered offer remaining at the close. The strength of cheese did nothing to support Class III futures. With only August posting a slight gain of 5 cents. The rest of the contracts that have traded range from 4 cents to 25 cents lower. Traders just are not interested in buying futures in anticipation of higher prices. The recent increase and quick decline have left a bad taste in their mouths that will take a lot to overcome. It is unclear whether the current increase of cheese prices will have the necessary components of a stronger trend higher. Butter price declined 4 cents closing at $1.6550 with one load traded. Grade A nonfat dry milk price gained 0.25 cent ending at $1.2550 with one load traded. Dry whey price declined 0.75 cent closing at 53.0 cents with no loads traded. Class IV futures have not yet traded. Butter futures are steady to 3 cents lower. Dry whey futures are 0.15 cent to 0.30 cent higher.
