NorthEast Butter

1/25/2013 3:00 PM

MADISON, WI. January 23, 2013 (Report 04)
The butter price on the CME Group was unchanged Tuesday and closed at
$1.5050. Prior to Tuesday's trading session, butter prices increased in
each of the previous 6 sessions for a cumulative increase of $0.0575.
Churns remain very active as cream supplies remain readily available. All
varieties of butter, 80%, 82%, salted and unsalted, are in current
production. Export demand is especially strong with good volumes being
transacted through export incentive programs. Domestic demand is steady for
this time of year. Bulk butter purchases continue to be active supported by
good export demand and also due to the fact that buyers view the butter
price as being at a level that offers the opportunity to expand inventories
at minimal risk. Current bulk butter prices remain strong and range from 4-
14 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 2.423 million pounds (1,099 metric tons) of
butter. The product will be delivered January through June 2013. According
to the latest NASS Cold Storage report, butter in storage on December 31,
totaled 152.9 million pounds, 25.6 million pounds more (+20%) than the prior
month stocks and 46.0 million pounds more (+43%) than December 2011 stocks.


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