NorthEast Butter

1/16/2013 3:00 PM

MD_DA410
DA
MD DA410 BUTTER - NORTHEAST
MADISON, WI. January 16, 2013 (Report 03)
NORTHEAST BUTTER
The butter price on the CME Group increased $0.0275 Tuesday and closed at
$1.4875. The butter price has increased in each of the last 3 sessions,
resulting in a net increase of 4 cents. Trading activity has been fairly
active with 8 loads traded over the last 3 sessions. Cream supplies
continue to be ample in the Northeast with good volumes going to churns.
All varieties of butter, 80%, 82%, salted and unsalted, are being produced
as manufacturers fill orders and expand inventories. The butter market has
seen an increase in domestic and export demand. Some brokers have increased
purchases, expanding their butter inventories for future domestic and export
sales opportunities. Bulk butter purchases have been brisk as buyers see
the butter price as being at a level that offers the opportunity to expand
inventories at minimal risk. Current bulk butter prices have increased and
range from 4-13 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 3.657 million pounds (1,659
metric tons) of butter. The product will be delivered January through June
2013.
2012 U.S. Butter and Milkfat Exports, (USDA-FAS)

(Million Lb.) % Change From
1 Year Ago

Nov. Total 6.3 - 28
Total, Jan - Nov. 99.5 - 25
1 Saudi Arabia 33.2 + 27
2 Iran 13.8 + 165
3 Morocco 7.4 - 9
4 Egypt 6.8 - 14
5 Mexico 5.9 - 59
1100C rick.whipp@ams.usda.gov


Should Congress revise the Endangered Species Act to prevent economic disruptions?

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