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Milk futures mostly, cash dairy higher

Milk futures on the Chicago Mercantile Exchange continued to rally Thursday supported by strong cash trade.

February Class III milk up six cents at $15.65.  March up 53 cents at $16.56.  April 75 cents higher at $17.40.  May 57 cents higher at $17.82.  June through August contracts 23 to 28 cents higher.

Dry whey up $0.0025 at $0.5475.  One sale was made at that price

Blocks up $0.07 at $1.66.  Eleven trades were made ranging from $1.60 to $1.66.

Barrels up $0.0650 at $1.4475.  Three trades were made at that price. 

Butter up $0.0325 at $1.4975.  Two trades were made at $1.4750 and $1.4950.

Nonfat dry milk up $0.0275 at $1.1225.  Eight trades were made ranging from $1.1075 to $1.1225.

The USDA says dairy cow slaughter during January was more than 10 percent of commercial slaughter at more than 277,000 head, up nearly 4,000 from December but down 21,000 from last year.

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