Wednesday Midday Dairy Market Summary - Cheese Continues Higher

Block cheese price jumped 8.75 cents closing at $1.71 with 2 loads traded. There were no bids are offer remaining at the close. Barrel cheese price increased 4 cents closing at $1.55 with 11 loads traded. There was an uncovered offer remaining above the market. This is certainly a good sign. As the price of cheese moves higher, it will bring more buyers in from the sidelines to purchase before the price moves too high. Blocks are now at the highest price since May 14. Barrels have been lagging but are trending higher. This has not had the impact on the market as one would have thought with the reason being continued weakness of dry whey. Dry whey price fell 3.25 cents settling at 49.75 cents with one load traded. It is now at the lowest price since Jan. 16. Butter price held steady at $1.74 with no loads traded. Grade A nonfat dry milk price declined 1.75 cents closing at $1.2275 with no loads traded. This is the lowest nonfat dry milk price since April 16th. Class III futures are 13 cents lower to 4 cents higher. Class IV futures are 1 cent to 20 cents lower. Butter futures are 1.00 cents lower to 0.02 cent higher. Dry whey futures are 1.00 cent to 2.10 cents lower.