Both block and barrel cheese prices remained unchanged at $1.78 and $1.41, respectively. No one showed up to do any business, leaving no direction for traders. However, it seems that steady prices are now considered to be bearish due to the bearish attitude of traders. In the past, a stable market generally was viewed as friendly because prices held. Now, steady prices mean the lack of upside potential. Class III futures are 28 cents lower to 4 cents higher. September showed the greatest pressure with the only gain taking place in March. Butter price declined a penny to $1.67 with no loads traded. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.2625, with five loads traded. Dry whey price remained unchanged at 52 cents with no loads traded. Class IV futures have only traded in front-month August at 20 cents higher. Butter futures are 0.55 cent to 3.97 cents higher. Dry whey futures are 0.75 cent lower to 1 cent higher.
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