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Milk futures over $17 again, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange ended the week higher with traders optimistic Mexico could lift tariffs.

May Class III milk up two cents at $16.30.  June up 22 cents at $16.45.  July 29 cents higher at $16.72.  August up 30 cents at $17.08.  September through January contracts 12 to 31 cents higher.

Dry whey unchanged at $0.34. 

Blocks up $0.0150 at $1.6725.  Twelve trades were made ranging from $1.6675 to $1.6725. 

Barrels up $0.0125 at $1.6250.  Fifteen trades were made ranging from $1.5125 to $1.63. 

Butter down $0.0450 at $2.34.  Eight trades were made ranging from $2.34 to $2.37. 

Nonfat dry milk down $0.0025 at $1.0475.  One trade was made at that price.

The USDA says cash dairy prices ended the week lower for all products except butter.  In the weekly dairy recap, the agency says cheese demand has slumped in the Midwest.  Butter production varies as cream volumes are decreasing with increased ice cream demand.  Fluid milk is production is increasing in most areas except the southeast. Inventories of dry milk products are tight with prices mixed.

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