Block cheese buyers were aggressive, moving price up 6.75 cents, closing at $1.6225 with just one load traded. There were no unfilled bids or uncovered offers remaining at the close. This is the highest price since May 19 with the market possibly trending higher. Barrel cheese price increased a penny to $1.51 with 18 loads traded. It was positive to see the market close higher even after that many loads were offered. It was negative in the fact that all those loads were purchased, but the market was only able to increase a penny. Butter price remained steady at $1.74 with no loads traded. Grade A nonfat dry milk price declined 1.25 cents, closing at $1.2450 with no loads traded. Dry whey price declined 2 cents, closing at 53 cents with one load traded. This moves the dry whey price down to the lowest level it has been since Jan. 28. The weakness of dry whey is what is keeping Class III futures under wraps. Class III futures are 16 cents lower to 1 cent higher. Class IV futures are 14 to 46 cents lower. Butter futures are 1.00 to 2.42 cents lower. Dry whey futures are 0.15 to 1.75 cents lower. The Global Dairy Trade auction trade weighted average declined 3.6% Tuesday.
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