MD_DA410

     Butter - Eastern U.S.

     Report 37 - Released on September 11, 2019

     Butter spot prices are mixed on various market exchanges currently. Trading activities are
     considerably active on the CME Group. In parts of the East region, cream supplies are
     beginning to slightly tighten. Cream demand is steady to somewhat picking up. Some butter
     makers are receiving stable cream loads for active production. There are other operations
     selling cream in lieu of churning. Manufacturers' butter inventories are fairly balanced.
     Many market participants anticipant cream interest will strengthen once the fall season
     approaches. Bulk butter prices for domestic sales are reported 5-8 cents over the market of
     the CME Group, with various time frames and averages used.

     National Retail Report Dairy ± Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of 9/6/2019
     to 9/12/2019

     Butter 1#                       Weighted Average Price
     National                  This Period   Last Week   Last Year
     Conventional                 $3.62        $3.32       $3.44
     Organic                       n.a.        $6.32       $5.30

     Prices This Period
     Regional (Conventional)    Wtd. Ave.       Low         High
     Northeast                   $3.42         $2.49       $4.99
     Southeast                   $2.50         $2.50       $2.50
     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 - +0.0800

     Information for the period September 9 - 13, 2019, issued weekly

     Secondary Sourced Information:

     Dairy Products Report ± Butter Summary
     Released September 4, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

     Butter Production ± States and United States: July 2018 and 2019
                        Monthly Production (1000 pounds)      Percent Change from
                          July         June        July          July       June
     Region               2018        2019        2019          2018      2019
     United States     134,564     144,801     142,687           6.0      -1.5

     Atlantic           12,167      14,843      12,667           4.1     -14.7
        Pennsylvania     6,902       6,895       6,856          -0.7      -0.6

     Central            51,902      56,036      54,833           5.6      -2.1

     West               70,495      73,922      75,187           6.7       1.7
        California      42,726      45,460      45,107           5.6      -0.8

     Butter Production ± Cumulative Production January - July
                      Cumulative Production   Percent Change
                            (1000 pounds)         from
     Report Month         2018        2019        2018
     July            1,153,683   1,140,832        -1.1


     2019 U.S. Butter and Milkfat Exports (USDA-FAS)

                      2019 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     July                  2.7             - 69

     TOTAL, JAN - JULY    33.3             - 40
     Exports ± Destination Country
     1 Canada             10.6             - 43
     2 Mexico              5.5             - 63
     3 Columbia            3.0             +787
     4 Saudi Arabia        3.0             -  4
     5 South Korea         2.8             +107
     Published by:
     Dairy Market News - Madison, WI
     JESSICA MUELLER, 608-422-8589
     Email: jessica.mueller@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