MD_DA410 Butter - Eastern U.S. Report 36 - Released on September 02, 2020 The butter market is bearish and volatile, as wholesale prices wander lower. The CME weekly average bulk butter price declined three cents last week, and the latest GDT report shows the all contract butter price dropping 1.2 percent. In the East, the wholesale bulk butter price ranges 2-6 cents over the CME, with various time frames and averages used. Sources see little or no difficulty in purchasing bulk butter. Retail ads nearly doubled compared to the previous week and point to an upward shift in print orders. Manufacturers’ stocks are at/near fully adequate. Plant production varies. Some operations are actively churning, while others prioritize cream commitments, limiting churn volumes. An increase in butter production can be expected, as sources say that surplus cream will likely fill the market ahead of the Labor Day holiday. 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 - +0.0600 Information for the period August 31 - September 4, 2020, issued weekly Secondary Sourced Information: CME TRADING CME Group’s Tuesday spot butter trading ended the day at $1.4650 down from the $1.5200 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