MD_DA410 Butter - Eastern U.S. Report 47 - Released on November 18, 2020 This week, the CME Group butter price declined on Monday and again on Tuesday. The cash price has declined $0.0750 over the past four trading days. Butter churning in the East is steady to lighter with some locations not churning as they move cream to contractual end- users for holiday specialty item production. Producers and handlers are satisfying orders from inventoried butter in some instances. Retail orders are very good. Buyers are finalizing Thanksgiving holiday orders. December butter shipments are developing well. Retail outlets are preparing for the seasonal surge in butter sales that leads up to Thanksgiving. Scattered feature activity has increased, especially for private labels. Meanwhile, food service is fairly stagnant, as the COVID-19 factor weighs heavily on traffic from restaurants. Bulk transactions are moderate in the spot market. The bulk butter price ranges +.0200 to +.0700 over the market based on the CME, with various time frames and averages used. Buying interest in the international market is good, as current pricing makes purchasing attractive. The market undertone is unsettled as prices relax. Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0200 - +0.0700 Information for the period November 16 - 20, 2020, issued weekly Secondary Sourced Information: CME TRADING CME Group’s Tuesday spot butter trading ended the day at $1.3625 down from the $1.4300 close a week ago. 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