MD_DA440

     Butter - Western U.S.

     Report 35 - Released on August 28, 2019

     The western butter market tone has kept its stability of the previous week. Restaurant and
     food service sales are very good, but retailers' demand for butter is less than that of a
     week ago. According to processors, this could be because they have their stocks replenished
     for the upcoming holiday. Cream availability has been increasing since the reopening of
     schools. Ice cream makers are also demanding fewer loads for their daily production. As a
     result, butter production has increased. The inventories of butter also picked up a bit
     despite good domestic sales.

     National Retail Report Dairy ± Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of 8/23/2019
      to 8/29/2019

     Butter 1#                       Weighted Average Price
     National                  This Period   Last Week   Last Year
     Conventional                 $3.40        $3.21       $3.52
     Organic                      $6.99        $3.99        n.a.
     Prices This Period
     Regional (Conventional)    Wtd. Ave.       Low         High
     Northwest                    $4.64        $3.99       $4.79
     Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0100 - +0.0750


     Information for the period August 26 - 30, 2019, issued weekly

     Secondary Sourced Information:

     The Grade AA butter price at the CME Group on Wednesday closed at $2.2100, compared to the
     weekly average price of $2.2940 from last week.

     Cold Storage ± Butter Summary
     Released August 22, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

                                                                       7/31/19
                    Stocks in all Warehouses (1,000 pounds)    as a percent of
                        7/31/18     6/30/19     7/31/19     7/31/18    6/30/19
     Butter Stocks      318,325     326,297     329,763         104        101
     Published by:
     Dairy Market News - Madison, WI
     FLORENCE KONE-GONZALEZ, (608)422-8594
     Email: florence.konegonzalez@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