NorthEast Butter

5/8/2013 3:00 PM

MADISON, WI. May 08, 2013 (Report 19)
The CME Group butter price declined $0.0075 Tuesday and closed at $1.6375.
Butter prices have declined in each of the last 4 trading sessions for a net
decline of $0.0525. Spring has sprung, pastures are opening, cow comfort
levels are increasing, butterfat levels remain good and cream supplies
continue to increase, adding to cream volumes going to churns. Butter
production continues to expand with increased bulk butter production adding
to inventories. Production of 82% unsalted butter continues as a few plants
continuing to fill export orders. Domestic demand for butter remains normal
for this time of year, while export interest remains fairly good. Current
bulk butter prices for this week and are 4-8 cents over the market on the
CME Group with various time frames and averages used.
DAIRY PRODUCTS: According to NASS, cumulative 2012 butter production through
March was 3.2% above cumulative year production for the same period for
2012. March's monthly U.S. butter production totaled 183.6 million pounds,
up 5.69% from February and 4.2% higher compared to March 2012. Atlantic
region butter production in March totaled 18.7 million pounds, up 0.6% from
February and 16.3% more than March 2012.
2013 U.S. Butter and Milkfat Exports, (USDA-FAS)

(Million Lb.) % Change From
1 Year Ago

Mar. Total 13.7 + 5
Total, Jan - Mar. 33.6 + 20
1 Saudi Arabia 15.7 + 57
2 Iran 6.7 + 32
3 Egypt 2.0 - 7
4 UAE 1.7 *
5 Morocco 1.0 - 58
*UAE purchases Jan. - Mar. 2012 were only 94,500 pounds

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