MD_DA440 Butter - Western U.S. Report 4 - Released on January 26, 2022 Cream inventories are available in the West, amid steady demand in the region. Some contacts report continued interest in loads of cream from purchasers in the Midwest. Stakeholders say that transportation issues have caused some contracted cream loads, intended for other regions, to become available for spot purchase. Demand for butter is strong in both domestic and international markets. Inventories of unsalted and salted butter are tight. Butter market prices have declined on the CME, through the start of this week, after several weeks of bullish movement. Butter production is steady, but below capacity. Plant managers cite labor shortages and delays to deliveries of production supplies are contributing to reduced production schedules. Bulk butter overages range from 9 to 15 cents over the CME market price. Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0900 - +0.1500 Information for the period January 24 - 28, 2022, issued weekly Secondary Sourced Information: COLD STORAGE – BUTTER SUMMARY Released January 24, 2022, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). 12/31/21 Stocks in all Warehouses (1,000 pounds) as a percent of 12/31/20 11/30/21 12/31/21 12/31/20 11/30/21 Butter Stocks 273,805 210,473 199,053 73 95 Published by: Dairy Market News - Madison, WI ROMAN CARAMAN, 608-422-8593 Email: roman.caraman@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