MD_DA410 Butter - Eastern U.S. Report 11 - Released on March 15, 2023 Cream supplies have tightened slightly in the Eastern states. Cream cheese production has picked up ahead of spring holidays and has further strained regional cream supplies. Despite tighter cream supplies, plant managers report that they are still operating strong seven-day churning schedules. Some contacts report that they are freezing some butter supplies in bulk and that inventories are more comfortable in certain locales than in others. Food service demand is steady. Recent retail prices have dissuaded some consumers and demand is noted to be steady to weaker. Butter prices on industry cash exchanges fell 1.25 cents over the course of last week but have bumped up 4.75 cents over Friday's close as of reporting. 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 - +0.1000 Information for the period March 13 - 17, 2023, issued weekly Secondary Sourced Information: U.S. BUTTER AND MILKFAT EXPORTS (USDA-FAS) 2023 Exports % Change From (Million Lb.) 1 Year Ago TOTAL, JANUARY 9.4 - 13 TOTAL, JAN 9.4 - 13 Exports - Destination Country 1 Canada 5.4 + 48 2 Mexico 1.7 - 35 3 South Korea 0.9 - 35 4 Taiwan 0.2 + 75 5 Panama 0.2 + 310 U.S. BUTTER AND MILKFAT IMPORTS (USDA-FAS) (Imports for Consumption) 2023 Imports % Change From (Million Lb.) 1 Year Ago January Imports Total Butter, Fats, Milk (H.S. Code 0405) 13.8 + 54 Butter Quota (H.S. Code 405101000) 1.6 + 63 Over Quota (H.S. Code 405102000) 7.2 + 33 AMF Quota (H.S. Code 405901020) 0.9 + 240 Over Quota (H.S. Code 405902020) 1.3 + 161 Other Milk Fat 2.9 + 57 2023 Imports % Change From (Million Lb.) 1 Year Ago TOTAL, JAN 13.8 + 54 Imports - Country of Origin 1 Ireland 6.4 + 48 2 India 2.9 + 48 3 New Zealand 2.3 + 106 4 Mexico 1.1 +1,931 5 France 0.5 - 15 Published by: Dairy Market News - Madison, WI ISABEL MCNEILL, 608-422-8594 Email: Isabel.McNeill@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