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Milk futures higher, cash dairy mixed

Chicago Mercantile Exchange Class III milk futures Wednesday were firm to higher on commercial spread activity, watching the impact of weather on production, but with an eye towards demand uncertainties. July was up $.01 at $14.25 and most active August was $.09 higher at $15.09, while September gained $.17 at $15.62 and October jumped $.27 to $15.94.

Cash cheese blocks were up $.0125 at $1.54. One bid was unfilled at that price and one offer was uncovered at $1.5475. Barrels were down $.0625 at $1.31. Five loads were sold, including two at $1.31. The last unfilled bid was one load at $1.30 and the last uncovered offer was for one load at $1.4325. Butter was unchanged at $2.2525. One bid was unfilled at $2.2325. Nonfat dry milk held at $.7675 with one load sold at that price. The last uncovered offer was for one load at $.77. Dry whey was steady at $.415. The last unfilled bid was on one load at $.40.

HighGround Dairy reports that on the Euro per ton basis, European Union whole milk prices were down on the week, while skimmed milk powder and butter were steady to lower and whey powder was unchanged. German Edam cheese was steady from the previous week, while Polish Cheddar jumped 8.0%.

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