MD_DA410

     Butter - Eastern U.S.

     Report 39 - Released on September 25, 2019

     Some manufacturers are receiving regular cream loads for stable butter production. However,
     a few operations are not churning at this time. Cream spot demand has been a bit softer.
     Cream multiples are also exhibiting lower prices. There are expectations cream demand will
     pick up in the near future. Additionally, some butter makers report orders are moderate to
     flat. Also, butter spot prices have been somewhat intermittent. With conditions currently
     mixed, various buyers have a wait and see approach to the market. 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 9/20/2019
      to 9/26/2019

     Butter 1#                       Weighted Average Price
     National                  This Period   Last Week   Last Year
     Conventional                $3.34         $3.67       $3.35

     Prices This Period
     Regional (Conventional)    Wtd. Ave.       Low         High
     Northeast                   $3.27         $2.79       $4.99
     Southeast                   $2.99         $2.99       $2.99
     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 23 - 27, 2019, issued weekly

     Secondary Sourced Information:

     This week, a cooperative export assistance program accepted requests for export assistance
     to sell 220,462 pounds (100 metric tons) of butter.

     Cold Storage ± Butter Summary
     Released September 23, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

                                                                       8/31/19
                    Stocks in all Warehouses (1,000 pounds)    as a percent of
                        8/31/18     7/31/19     8/31/19     8/31/18    7/31/19
     Butter Stocks      290,851     329,595     305,123         105         93
     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