The feds blew the lid off this racket.

About 50,000 knockoff baseball caps — many bearing Yankee logos — were seized on July 29 from a shipping container at Port Newark, authorities said yesterday.

The caps — which could have sold for a total of $1 million — were likely destined for “different places in the metropolitan area, possibly with vendors you might see on the street,” said US Customs and Border Protection spokesman Anthony Bucci.

He added that there were no suspects, and that no arrests had been made.

The cargo container was marked as holding household goods. The caps were “of generally poor quality and lacked any licensing information, despite using the same logos as legitimate baseball caps,” the feds said in a statement.