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Milk futures lower, cash dairy mixed
Milk futures on the Chicago Mercantile closed lower at midweek as traders gave back some overbought positions.
April Class III milk down a penny at $15.91. May down three cents at $15.84. June down a penny at $16.05. July three cents lower at $16.28. August through December contracts were three cents lower to unchanged.
Dry whey down $0.0050 at $0.33. One trade was made at that price.
Blocks down $0.0025 at $1.67. Five trades were made at that price.
Barrels up $0.0250 at $1.60. Seven trades were made ranging from $1.5750 to $1.60.
Butter down $0.0075 at $2.2550. Four trades were made ranging from $2.25 to $2.2550.
Nonfat dry milk up $0.0075 at $1.02. Two trades were made at $1.0175 to $1.02.
The USDA says 2018 dairy cow slaughter represented nearly 10 percent of commercial slaughter at nearly 3.2 million head, up more than 164,000 from 2017.
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