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Milk Futures, Cash Dairy Lower

Milk futures on the Chicago Mercantile Exchange saw some major sell-offs Tuesday as traders corrected oversold positions and reacted to the run-up in grains following the monthly supply and demand report.


January Class III milk down 16 cents at $16.39.  February down 75 cents at $18.68.  March 73 cents lower at $18.32.  April down 52 cents at $17.93.  May through July contracts seven to 38 cents lower.


Dry whey unchanged at $0.50.  One sale was made at that price.


Blocks down $0.0050 at $1.9575.


Barrels down $0.0025 at $1.65.


Butter unchanged at $1.31.


Nonfat dry milk unchanged at $1.1850.  Two sales were made at $1.18 and $1.1850.

--Brownfield AgNews 
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