NorthEast Butter

4/10/2013 3:00 PM

MADISON, WI. April 10, 2013 (Report 15)
The CME Group butter price increased $0.0025 on Tuesday and closed at
$1.7325. Butter prices have increased in each of the last 6 sessions with a
cumulative total net increase of $0.1025. Trading activity has been fairly
light during that same period with only 4 loads sold. Cream supplies are
readily available with good volumes going to churns, keeping butter
production on par with last week. Domestic demand for butter is better than
expected as recent price increases have prompted some buyers to expand
inventories, prior to further possible price hikes. Export demand remains
strong with some butter makers continuing to make 82% unsalted butter to
fill export orders. DAIRY PRODUCTS: According to NASS, cumulative 2013
butter production at 359.3 million pounds was 2.7% above cumulative
production for 2012 (unadjusted for leap year). February's monthly U.S.
butter production totaled 171.3 million pounds, down 8.9% from January, but
1.1% higher compared to February 2012 (unadjusted for leap year). Atlantic
region butter production in February totaled 18.6 million pounds, down 11.6%
from January, but 2.7% more than February 2012 (unadjusted for leap year).
2013 U.S. Butter and Milkfat Exports, (USDA-FAS)

(Million Lb.) % Change From
1 Year Ago

Feb. Total 10.4 + 25
Total, Jan - Feb. 19.9 + 34
1 Saudi Arabia 8.6 + 65
2 Iran 4.5 + 32
3 UAE 1.4 -
4 Egypt 0.8 - 40
5 Morocco 0.7 + 41

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