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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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