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Milk futures mostly higher, cash dairy steady to lower

Class III milk futures at the Chicago Mercantile Exchange were mostly higher on spread trade and technical buying. April was down $.06 at $15.18, May was up $.15 at $15.33, June was $.18 higher at $15.54, and July was up $.08 at $15.94.

Cash cheese blocks were unchanged at $1.475. The last unfilled bid was on one load at $1.4675. Barrels were down $.0175 at $1.3825. Six loads were sold, including one at $1.3825 and four at $1.3925. The last unfilled bid was on one load at $1.3725. The last uncovered offer was for one load at $1.39.

Butter was $.0025 lower at $2.0675. Two loads were sold, one at $2.0625 and one at $2.0725. The last unfilled bid was on one load at $2.065. The last uncovered offer was for two loads at $2.08.

Nonfat dry milk was steady at $.8475. The last unfilled bid was on one load at $.845. The last uncovered offer was for two loads at $.855.

The USDA says the dairy cow slaughter during March was 271,100 head, 9.9% of the total kill, and the first quarter slaughter was 793.4 million head, 10.5% of the total.

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