NorthEast Butter

2/28/2013 3:00 PM

MD_DA410
DA
MD DA410 BUTTER - NORTHEAST
MADISON, WI. February 27, 2013 (Report 09)
NORTHEAST BUTTER
The butter price on the CME Group declined $0.0200 Tuesday to close at
$1.5500. The butter price has declined in each of the previous 4 trading
sessions, totaling a net decline of $0.0550. Strong milk production and
good butterfat levels are keeping cream supplies plentiful. Butter
production remains strong as cream supplies quickly exceed demand needs and
add to volumes going to churns. Domestic butter demand has increased with
increased orders from retailers ahead of the Passover/Easter holidays.
Production of 82%, unsalted butter remains active as a number of butter
plants are filling export orders. Though butter demand is good, production
continues to add to inventories at a few plants. Current bulk butter prices
held steady this week and range from 4-10 cents over the market based on the
CME Group with various time frames and averages used. Cooperatives Working
Together (CWT) has accepted requests for export assistance to sell 908,305
pounds (412 metric tons) of butter. The product will be delivered February
through July 2013. According to the latest NASS Cold Storage report, butter
in storage on January 31, totaled 206.6 million pounds, 53.6 million pounds
more (+35%) than the prior month stocks and 36.3 million pounds more (+21%)
than January 2012 stocks.
1100C rick.whipp@ams.usda.gov


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10/31/2014 | Last Updated: 1:16 AM