Block cheese price was steadily bid higher as buyers were looking to take advantage of the decline of price last week. Price increased 5.25 cents, closing at $1.7450 with three loads traded. Sellers may hold back a little now that buyers turned more aggressive. There were no unfilled bids or uncovered offers remaining at the close. Barrel cheese price increased 0.75 cent, closing at $1.4850, with one load traded. Offers remained on the board at the close, which will keep some pressure on upside potential. Butter price increased 1.75 cents, closing at $1.68, with three loads traded. Grade A nonfat dry milk price increased a penny to $1.26 with one load traded. Dry whey price declined a penny with no loads traded. Class III futures are 1 cent to 27 cents higher. Class IV futures have not yet traded. Butter futures are 0.25-0.75 cent higher. Dry whey futures are 0.22 cent lower to 0.22 cent higher. USDA will release the July Cold Storage report Monday afternoon. Inventory is expected to show a decrease from June.
