MD_DA451 Butter Highlights Report 32 - Released on August 7, 2020 The butter market price caught some contacts by surprise, dropping into the low $1.40s early in the week. However, prices corrected back into the mid-$1.50s by Thursday. Undoubtedly, there is some uncertainty regarding butter market tones. Food service sales have fallen off. Seasonal demand, in general, is lackluster. A number of butter producers report simply churning for fall demand and/or governmental purchasing. There is plenty of cream for the churn, as multiples are falling in the 1.10s and 1.20s in the West and Midwest, respectively. That said, in the East, 1.30s multiples have butter makers clearing fewer spot cream loads. Western contacts relay print butter is tighter, while bulk butter is available. Information for the period August 3 - 7, 2020, issued weekly Secondary Sourced Information: The CME Group's weekly average for Grade AA butter is $1.5265, compared to $1.6415 last week. Published by: Dairy Market News - Madison, WI ISRAEL WEBER, 608-422-8601 Email: israel.weber@usda.gov Additional Dairy Market News Information: Dairy Market News (DMN) by Phone: (608)422-8602 DMN Website: https://www.ams.usda.gov/market-news/dairy DMN MARS (My Market News): https://mymarketnews.ams.usda.gov