Block cheese price declined 2.50 cents, closing at $1.7250, with two loads traded. Barrel cheese price declined 2 cents, closing at $1.50, with four loads traded. The interesting aspect of Wednesday's trade is that both blocks and barrels traded lower before coming back from those lows. Blocks moved as much as 3.50 cents lower at one point, while barrels also declined 3.50 cents before both were able to limit those losses by the close of spot trading. Butter price declined 2.75 cents to close at $1.7225 with two loads traded. Grade A nonfat dry milk price increased a penny, closing at $1.36, with one load traded. Dry whey price increased 1.50 cents, ending at 56.50 cents, with no loads traded and five unfilled bids remaining at the close. Class III futures are 18 cents lower to 4 cents higher with only May showing the gain. Class IV futures are 10 cents lower to 4 cents higher again with May showing the only gain. Butter futures are 0.02 cent to 2.77 cents lower. Dry whey futures are 0.25 cent to 1.50 cents higher. USDA will release the August Cold Storage report Wednesday afternoon. Inventory is expected to show a decline in all categories.
