MD_DA431
DA
MD DA431 BUTTER - CENTRAL 

MADISON, WI.  January 28, 2015 (Report 4)

CENTRAL BUTTER

Print butter churning is down for some manufacturers as retail demand 
is lower than expected. Bulk butter churning remains active.  Offers 
are light as inventory levels are clearing. Bulk butter buying is down 
as current prices do not support heavy buying. Sellers are waiting for 
the market to move up. Bulk butter prices are ranging from market to 6 
cents over the market, with various time frames and averages used. 
Wednesday at the CME Group, Grade AA butter closed at $1.6375, up 
$0.0875 from last Wednesday. The NASS Cold Storage report noted U.S. 
butter stocks on December 31, 2014 were 98.6 million pounds, 2% lower 
than last month and 12% below a year ago. According to FAS, January-
December U.S. butter quota imports total 14.9 million pounds, a 37% 
increase compared to same time span last year. This week, a 
cooperative export assistance program accepted requests for 440,925 
pounds of butter. 

               2014 U.S. Butter Imports (USDA-FAS)
                  (Million Lb.)       % Change From   % of 
                                      1 Year Ago      Yearly Quota

Dec. Quota Imports   1.2               -    8               8

Jan. - Dec. 
High Tier            7.7               + 1374              N.A.
Quota Imports       14.9               +   37              97

1500CT Tara.Herbst@ams.usda.gov 608-278-4154 
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: www.ams.usda.gov/dairymarketnews
Dairy Market News database portal: http://www.marketnews.usda.gov/mnp/da-home