NorthEast Butter

7/20/2013 3:00 PM

MADISON, WI. July 17, 2013 (Report 29)
The butter price on the CME Group increased $0.0025 Tuesday and closed at
$1.4825. Butter prices have rebounded $0.0225 this week, after declining
$0.0650 last week. Butter production has declined due to a number of
factors. Declining milk production, lower butterfat levels, increased Class
II cream demand and seasonal maintenance on some churns have combined to
significantly reduce butter production. As cream supplies have declined, a
number of plants are looking to finish up their remaining orders and then
taking some down time over the next couple of weeks to complete yearly
maintenance projects. Domestic demand for butter is steady for this time of
year, but export interest remains fairly good with some butter makers
continuing to fill 82% butter orders. Current bulk butter prices for this
week are 4-6 cents over the market on the CME Group with various time frames
and averages used. Cooperatives Working Together (CWT) has accepted
requests for export assistance to sell 3.522 million pounds (1,598 metric
tons) of butter. The product will be delivered July through December 2013.
During 2013, CWT has assisted member cooperatives in making export sales of
butter totaling 56.907 million pounds.

Does milk have a lot of untapped potential in today’s competitive beverage market?

  • Yes
  • No
  • Unsure

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