NorthEast Butter

5/24/2013 3:00 PM

MD_DA410
DA
MD DA410 BUTTER - NORTHEAST
MADISON, WI. May 22, 2013 (Report 21)
NORTHEAST BUTTER
The CME Group butter price was unchanged Tuesday and closed at $1.5950.
Prior to Tuesday's market, butter prices have been up and down over the
previous 5 sessions, registering a net loss of $0.0150. Butter production
is increasing this week as cream supplies are expanding ahead of the
upcoming holiday. The increase in cream supplies is prompting increased
production of bulk butter as numerous butter makers are forced to expand
inventories. Demand for butter has shown some improvement as lower weekly
CME Group averages and improved restaurant business have sparked some sales,
but the supplies of butter can readily meet the uptick in demand. Export
demand has also slowed compared to previous weeks as numerous buyers have
expanded inventories. Current bulk butter prices for this week are 4-8
cents over the market on the CME Group with various time frames and averages
used.
1100C rick.whipp@ams.usda.gov



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