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Milk futures higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange turned higher Thursday as traders bought back oversold positions and cash trade was mostly positive.

April Class III milk was up four cents at $24.31. May 40 cents higher at $24.57. June up 38 cents at $24.82. July 48 cents higher at $24.65. August through to October 20 to 41 cents higher.

Dry up $0.0050 at $0.64. Two sales were made at that price at $0.6375 and $0.64.

Blocks up $0.0275 at $2.3625. Three sales were made from $2.3350 to $2.3625.

Barrels up $0.0275 at $2.37. Nine trades were made from $2.34 to $2.37.

Butter down $0.03 at $2.69. Three trades were made from $2.68 to $2.69.

Nonfat dry milk down $0.0150 at $1.7725. One trade was made at that price.

For May, the USDA has set the base Class I milk price at $25.45 per hundredweight, up $1.07 from April, with the base Class I skim price at $14.99, up $1.01.

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