Butter - Northeast

     Butter - Eastern U.S.

     Report 20 - Released on May 17, 2018

     Butterfat continues to demonstrate robustness. Tuesday�s CME Group trading, saw the daily
     butter price close at $2.3825, thrusting higher $0.0425 from the previous close, while up 8
     cents from same time last week. Butter making is steady, in general, with liberal output of
     unsalted production tracking both domestic and global customers. Exports are well above one
     year ago numbers. This week, a cooperative export assistance program accepted requests for
     export assistance to sell 440,925 pounds (200 metric tons) of butter. Area cream supplies
     support processors, alongside the good demand. However, seasonal competition from ice cream
     is absorbing surplus cream, dipping into volumes that would likely clear to local churns.
     Butter stocks are balanced. Active buying interest hubs around the short term or immediate
     needs. Retail movement of print butter is fair to somewhat good, with food service orders
     about steady. Bulk butter transactions are 5 to 7 cents over the market of the CME Group,
     with various time periods and averages used. According to the DMN National Retail Report-
     Dairy, for May 11-17, 2018, the Northeast weighted average retail price for 1-pound butter
     was $2.95, 18 cents below the national average price. Markets in the Northeast reported
     prices ranging $2.50-$4.29. In the Southeast, the weighted average butter price is $3.21, 8
     cents above the national average, with prices ranging $2.99-$3.50, in retail markets
     Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0500 - +0.0700

     Information for the period May 14 - 18, 2018, issued weekly

     Published by:
     Dairy Market News - Madison, WI
     DANIEL JOHNSON, 608-422-8605
     Email: daniel.johnson@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home