NorthEast Butter

1/11/2013 3:00 PM

MADISON, WI. January 09, 2013 (Report 02)
The butter price on the CME Group declined $0.0350 Tuesday and closed at
$1.4500. In the last 2 sessions the butter price has declined 5 cents.
Cream supplies remain heavy, but down from the holiday period. A majority
of the cream supply is headed to churns, keeping butter production at levels
above demand and adding to inventories. Some butter makers anticipating
the seasonal increase in cream supplies, were able to defer some butter
orders until post-holiday and are filling those orders now. Domestic bulk
butter orders have improved with increased interest coming from baking
manufacturers. Export interest has also improved, prompting some butter
makers to focus on 82% butter production. Current bulk butter prices range
from 4-7 cents over the market based on the CME Group with various time
frames and averages used.
DAIRY PRODUCTS: According to NASS, cumulative 2012 butter production
through November was 2.5% above cumulative year production for the same
period for 2011. November's monthly U.S. butter production totaled 143.7
million pounds, down 0.8% from October and 6.0% lower compared to November
2011. Atlantic region butter production in November totaled 12.1 million
pounds, up 7.4% from October, but 2.5% less than November 2011.

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