Block cheese price increased 2 cents, closing at $1.5325 with no loads traded. This is a bit strange as sellers have been the aggressors for more than a week with buyers nowhere to be found on some days. Thursday, however, there was a seller, but at a higher price with no interest to offer lower. Barrel cheese price remained unchanged at $1.3725 with six loads traded. Price initially moved 0.75 cent higher before selling brought the price back down to unchanged. Butter price declined 3.25 cents, closing at $1.69 with nine loads traded. Grade A nonfat dry milk price increased 0.75 cent, closing at $1.2450 with three loads traded. Dry whey price increased 0.50 cent, ending at 53.75 with no loads traded. Class III futures are 8 cents lower to 25 cents higher with August showing the greatest strength. Class IV futures are 10 cents higher. Butter futures are 2.75 cents lower to 0.25 cent higher. Dry whey futures are 0.15 to 1.37 cents lower. USDA will release the June Milk Production report Thursday. I estimate milk production to be 3.6% above June 2020 with 2,000 more head of cows than May. The June Cold Storage and Livestock Slaughter reports will also be released Thursday.
