Tuesday Midday Dairy Market Summary - Blocks Bounce

Block cheese price gained 2.50 cents closing at $1.75 with 3 loads traded. Barrel cheese price initially increased a penny to $1.61 before selling activity moved price back down to unchanged at $1.60 with 9 loads traded. This action took Class III futures from their highs, but they remain strong with contracts ranging from 1 cent lower to 30 cents higher. The only loss it seen in front-month September as it is only moving on a limited basis due to it basically being priced. Dry whey also provided some support with an increase of 1.50 cents closing at 55 cents with 3 loads traded. Butter declined 2.25 cents closing at $1.75 with 14 loads traded. Price initially moved higher reaching $1.78 before falling back into the close. Grade A nonfat dry milk price remained unchanged at $1.35 with 7 loads traded. Class IV futures are 10 cents lower to 5 cents higher. Butter futures are 0.72 cent lower to 0.90 cent higher. Dry whey futures are 0.55 cent to 1.20 cents higher.