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LIVESTOCK MARKETS: Milk production moderates during Q1

Exports of most dairy products show strong year-over-year growth.

According to the May “Dairy Market Report” released by the National Milk Producers Federation (NMPF) and Dairy Management Inc., the rate of milk production growth began to moderate during the first quarter, but additional milk production continues to generate American cheese at a faster rate than total consumption, driving up inventories and putting some pressure on cheese prices. Despite the growing inventories, the report said exports of most products have shown strong year-over

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