NorthEast Butter

2/15/2013 3:00 PM

MADISON, WI. February 13, 2013 (Report 07)
The butter price on the CME Group was unchanged Tuesday and closed at
$1.5550. The butter price has held steady in light trading in the last 9
sessions. Butter production expanded this week as increased volumes of
cream moved to churns following winter storm Nemo that hit New England.
Current production consists of all varieties in bulk and print. A majority
of manufacturers have expanding inventories, except for a few that are
churning only to fill orders. Domestic demand remains steady for this time
of year. Export demand remains especially strong and accounts for recent
increases seen in the bulk butter price. 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 524,700 pounds (238
metric tons) of butter. The product will be delivered February through July

2012 U.S. Butter and Milkfat Exports, (USDA-FAS)

(Million Lb.) % Change From
1 Year Ago

Dec. Total 7.7 + 6
Total, Jan - Dec. 107.2 - 24
1 Saudi Arabia 36.7 + 27
2 Iran 14.5 + 129
3 Morocco 8.3 unchanged
4 Mexico 7.1 - 52
5 Egypt 6.8 - 16

2013 U.S. Butter Imports (USDA-FAS)
(Million Lb.) % Change From % of
1 Year Ago Yearly Quota
Jan Quota Imports 0.82 + 47.2 5.3

Jan. High Tier .09 + 782.4 N.A.

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