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Milk futures, cash dairy mostly higher

Milk futures on the Chicago Mercantile Exchange closed higher Thursday as traders corrected oversold positions and cash markets were mostly higher. 

May Class III milk was up 22 cents at $24.94.  June 36 cents higher at $24.66.  July up 12 cents at $24.24.  August 14 cents higher at $23.74.  September through November 16 to 26 cents higher. 

Dry whey down $0.0025 at $0.5850.   

Blocks up $0.0025 at $2.35.  Two trades were made at $2.35 and $2.3525.   

Barrels up $0.03 at $2.33.  One sale was made at that price. 

Butter up $0.01 at $2.66.  Three trades were made at $2.66 and $2.67. 

Nonfat dry milk up $0.0050 at $1.74.  One trade was made at that price. 

The USDA has adjusted April Class and Component prices higher.  The Class II milk price was set at $25.71 per hundredweight, up $0.95 from March, the Class III price was $24.42, $1.97 higher, and Class IV was $25.31, up $0.49. 

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