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Milk futures mostly higher, cash dairy mixed

Milk futures on the Chicago Mercantile Exchange turned mostly higher Tuesday supported by strong global trade.

November Class III milk up a penny at $20.32.  December down eight cents at $18.39.  January a nickel higher at $17.93.  February up ten cents at $17.42.  March through June contracts three to 11 cents higher.

Dry whey unchanged at $0.3325. 

Blocks down $0.03 at $1.8375.  Three trades were made at $1.8375 and $1.84. 

Barrels down $0.0050 at $2.15.  One trade was made at that price.

Butter down $0.01 at $2.0650.  Three trades were made ranging from $2.05 to $2.0725. 

Nonfat dry milk up $0.0175 at $1.2350.  Five trades were made ranging from $1.23 to $1.2350. 

The Global Dairy Trade auction index in New Zealand traded nearly two percent higher. The index increased to $3,481 per ton. Rennet casein had the largest gain, up almost six percent, followed by skim milk powder and cheddar. Anhydrous milkfat and butter were the only products to post losses.

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