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Milk futures, cash dairy higher

Milk futures on the Chicago Mercantile Exchange closed Tuesday higher supported by double-digit gains in global trade and strong cash trade.

February Class III milk up a penny at $15.65.  March up 22 cents at $16.34.  April 39 cents higher at $17.80.  May up 33 cents at $17.99.  June through August contracts 12 to 16 cents higher.

Dry whey up $0.0075 at $0.5650.  Two sales were made at $0.56 and $0.5650.

Blocks up $0.0050 at $1.63.  Two sales were made at $1.6225 and $1.63.

Barrels unchanged at $1.42. 

Butter up $0.08 at $1.7150.  Four trades were made ranging from $1.65 to $1.71.

Nonfat dry milk up $0.0325 at $1.1750.  Twelve trades were made ranging from $1.16 to $1.1750.

The Global Dairy Trade index in New Zealand saw an impressive 15 percent gain Tuesday likely tied to China demand and stockpiling amid shipping container shortages.  Gains were seen in almost all categories with whole milk powder, up 21 percent, butter, up 13.7 percent, and anhydrous milk fat, up 7.4 percent, posting the largest increases.  Butter milk powder had the only decline, down 0.3 percent.

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