Cheese prices were mixed Monday with blocks declining while barrel increased. Block cheese price fell 5.25 cents closing at $1.7975 with 3 loads traded. Barrel cheese price increased 4.50 cents closing at $1.79 with 2 loads traded. This moves the block/barrel spread within 0.75 cents after a long period of being very wide apart. Even though blocks showed significant weakness, barrels offset the weakness with a gain. This, along with the narrowing spread, provided the strength to keep Class III futures higher. Contracts are 3 cents to 23 cents higher with November showing the greatest strength. Butter price fell further with a loss of 5.75 cents closing at $1.69 with 6 loads traded. This moves price back to the lowest level since August 23rd. Grade A nonfat dry milk price increased 0.25 cent closing at a new multi-year high of $1.40 with 4 loads traded. Dry whey price increased 0.50 cent ending at 58.50 cents with no loads traded. Class IV futures are unchanged to 2 cents lower. Butter futures are 1.00 cent to 3.00 cents lower. Dry whey futures are 0.15 cent lower to 1.42 cents higher. USDA will release the August Dairy Products report Monday afternoon.
