Block cheese price increased 1.75 cents, closing at $1.7525 and the highest price it has been since May 7. There were 3 loads changing hands Tuesday. Barrel cheese price increased 0.75 cent settling at $1.6475 with one load traded. Butter price increased 1.25 cents closing at $1.71 with no loads traded. Grade A nonfat dry milk price increased 0.75 cent closing at $1.2675 with one load traded. Dry whey price increased 1.75 cent with 3 loads traded. Class III futures were higher into spot trading but slipped back after the trading period finished with some contracts posting losses. However, over time futures strengthened moving to double-digit gains with the August contract pushing above $18.00. Traders bought into the market due to the realization that cash prices were going to continue to trend higher. Class III futures are 4 cents lower to 26 cents higher. Class IV futures have not traded. Butter futures are 0.70 cent to 2.95 cents higher. Dry whey futures are 0.05 cent to 1.52 cents higher.
