Block cheese price increased 0.75 cent closing at $1.6350 with 1 load traded. Barrel cheese price slipped 0.25 cent ending at $1.4150 with 2 loads traded. Barrels initially declined 1.50 cents before the first load traded, but then rebounded with the second load traded, setting the closing price. Butter slipped further with price declining 1.50 cents closing at $1.64 with 1 load traded. Grade A nonfat dry milk price declined 0.50 cent ending at $1.25 with one load traded. Dry whey price remained unchanged at 53.0 cents with no loads traded. Class III futures historically would have bounced with the higher block price and a rebound from the lows in barrels, but not in the current market environment. Class III futures are 17 cents lower to 1 cent higher. The gain is only in the nearby July contract as that moves back and forth within a narrow range until expiration. Class IV futures are 16 cents lower. Butter futures are 0.50 cent to 3.50 cents lower. Dry whey futures are 0.15 cent to 0.50 cent higher.
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