MD_DA410 Butter - Eastern U.S. Report 20 - Released on May 13, 2020 Butter production is steady with a good share of output directed to the retail and food service sectors. Some butter makers shopped for additional Class IV cream this week as increased butter interest, from foodservice, competes with seasonal Class II ice cream manufacturing needs. Multiples are higher in the East, this week, ranging 1.20-1.25. The wholesale bulk butter markup range is 1-6 cents over the CME Group, with various time frames and averages used. Domestic butter prices are upholding its competitive advantage in some export markets. As a result, the majority of product for some butter processors in the East, which typically clears to the domestic market, is now clearing to global marketplaces. The market has seen CME butter prices rise or hold steady over the last seven days, displaying a firm undertone. Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0100 - +0.0600 Information for the period May 11 - 15, 2020, issued weekly Secondary Sourced Information: CME TRADING The CME Group's Tuesday cash butter trading closed at $1.3525, up from $1.1950 a week ago. EXPORT ASSISTANCE This week, a cooperative export assistance program accepted requests for export assistance to sell 1.118 million pounds (507 metric tons) of butter. Published by: Dairy Market News - Madison, WI DANIEL JOHNSON, 608-422-8605 Email: daniel.johnson4@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