Block cheese price increased 6.25 cents closing at $1.7150 with 2 loads traded. There were bids or offers remain at the close. Barrel cheese price increased 1.75 cents closing at $1.54 with 8 loads traded. There were 2 unfilled bids under the market at the close indicating buyers may be less aggressive after the past two days. Buyers of blocks that held back waiting for lower price have seen it run away from them. However, price has increase on limited activity suggesting buyers needed to fill orders at whatever it took to purchase supplies. Butter price remained unchanged at $1.9650 with 4 loads traded. Grade A nonfat dry milk price remained at $1.57 with 9 loads traded. Dry whey price remained unchanged at 66 cents with no loads traded. Class III futures are 5 cents to 27 cents higher with December and January showed the greatest gain. Class IV futures are 1 cent lower to 12 cents higher. Butter futures are 0.25 cent to 1.95 cents higher. Dry whey futures are 0.45 cent to 2.35 cents higher. USDA reduced their milk production estimate significantly for next year to the current estimate of 228.1 billion pounds.
