Cheese prices plunged ever lower again this week with barrels breaking the $1.30 mark at $1.29/lb and blocks at $1.34/lb. Butter gained back a penny more than last week's losses and is now selling at a 6 to 11-cent premium to cheese at $1.4050/lb.  Nonfat dry milk remains stuck at $1.12/lb. Class III milk futures plummeted with cheese prices. By midweek, all contracts on the board for the next 12 months were under $15, and on Friday's close, April slipped under the $13 mark to $12.89/lb, while March closed at $13 and May at $13.09. The January USDA Cold Storage report released earlier this week showed total cheese inventories up 11.2% compared with January 2009.