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Milk futures, cash dairy mostly lower

Milk futures on the Chicago Mercantile Exchange closed lower at midweek pressured by mostly lower cash trade and gains in the grain market.

November Class III milk down nine cents at $23.77.  December five cents lower at $20.17.  January down seven cents at $17.92.  February five cents lower at $16.79.  March through May contracts eight cents lower to five cents higher.

Dry whey unchanged at $0.42. 

Blocks down $0.1050 at $2.63. 

Barrels down $0.03 at $2.4950.  Two trades were made at that price.

Butter up $0.0125 at $1.4375.  Five trades were made ranging from $1.4375 to $1.4550. 

Nonfat dry milk down $0.0050 at $1.0650.  

The USDA has adjusted October Class and Component prices higher.  The Class II milk price was set at $13.63 per hundredweight, up $0.47 from September, the Class III price was $21.61, $5.18 higher, and Class IV was $13.47, up $0.72.

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