Spot trading was open for a period of time before trading began. Bids and offers began being placed for barrels with initial trading moving price down 0.50 cent before buyer interest began, increasing moving price back up to end 0.25 higher at $1.31 with 4 loads traded. Class III futures were higher prior to spot trading and remain that way after. Butter price slipped 0.75 cent ending at $1.6475 with 1 load traded. Grade A nonfat dry milk price remained unchanged at $1.2550 with no loads traded. Dry whey price increased 0.25 cent closing at 54 cents with no loads traded. Class III futures are 4 cents to 26 cents higher with the exception of front-month August, which is down 9 cents as it adjusts to the underlying cash. It only has about one week before it will flat line. Class IV futures have not yet traded. Butter futures are one cent lower to 0.40 cent higher. Dry whey futures are 0.07 cent lower to 1.05 cent higher.
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