NorthEast Butter

5/7/2013 3:00 PM

MADISON, WI. May 1, 2013 (Report 18)
The CME Group butter price held steady on Tuesday and closed at $1.6900.
Butter prices held steady for the last 4 trading sessions, following a
decline of $0.0975 in the previous 3 sessions. Cream supplies continue to
increase as milk production is increasing with the oncoming flush. The
increases in the cream supplies are channeling more volumes to churns and
butter production is expanding. Domestic demand for butter remains flat,
causing butter manufacturers to produce more bulk butter and expand
inventories. Export interest remains good. Cooperatives Working Together
(CWT) has accepted requests for export assistance to sell 1.102 million
pounds (500 metric tons) of butter. The product will be delivered May
through October 2013. During 2013, CWT has assisted member cooperatives in
making export sales of butter totaling 51.727 million pounds. Current bulk
butter prices declined on the top end of the range this week and are 4-8
cents over the market on the CME Group with various time frames and averages
used. According to the National Dairy Retail Report, retail butter ads in
the Northeast totaled 1,114, 52% of the total national ad count of 2,139,
the highest of any region. The weighted average price for a 1 lb. package
of butter in the Northeast was $3.23, 19 cents more than the national
weighted average price and 41cent more than the previous reporting

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