I have small bumps on my breast near the nipple that are itchy and weep fluid and sometimes have pus filled bumps as well. What is it?

Areolar glands. Areolar glands are sebaceous glands in the areola surrounding the nipple. The glands make oily secretions (lipoid fluid) to keep the areola and the nipple lubricated and protected. The round bumps are found in the areola, and on the nipple itself. They can become exposed and raised when the nipple is stimulated, and irritated by over-stimulation and ill-fitting clothing. Visit your doc to be sure.