NorthEast Butter

10/2/2012 3:00 PM

MADISON, WI. September 26, 2012 (Report 39)
The CME Group butter price increased $0.0100 Tuesday to close at
$1.9400. In the last 5 trading sessions, the butter price has
increased $0.0875 on 7 trades. Cream supplies are readily available
with good volumes coming from bottling plants. Butter production is
about steady with last week. Most butter makers are not yet ready to
increase production for the upcoming holiday season. Demand for
butter is at typical seasonal levels for this time of year. Current
production is geared to filling orders. Export interest remains
fairly good. Cooperatives Working Together (CWT) has accepted
requests for export assistance to sell 687,842 pounds (312 metric
tons) of butter. The products will be delivered from September
through March 2013. During 2012, CWT has assisted member
cooperatives in making export sales of butter totaling 58.1 million
pounds and anhydrous milk fat totaling 123,459 pounds. According to
the latest NASS Cold Storage report, butter in storage on August 31,
totaled 204.5 million pounds, 29.9 million pounds less (-13%) than
the prior month stocks, but 38.8 million pounds more (+23%) than
August 2011 stocks. Current bulk butter prices range from 4-8 cents
over the market based on the CME Group with various time frames and
averages used.


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