MD_DA410
DA
MD DA410 BUTTER - Northeast  

MADISON, WI. June 28, 2017 (Report 26)

Northeastern print butter sales activities are active as retail 
channels advertise butter in weekly announcements. Cream multiples are 
strong as manufacturers have a high demand for cream. Butter 
production is strong to light as a number of churns are operating on 
full schedules, and other churns are on light schedules due to 
maintenance and cream supplies being sold. Inventories are adequate 
for contractual needs. With milkfat in high demand, butter prices are 
showing strength in domestic and global markets. Domestic bulk butter 
prices are 5-7 cents over the market of the CME Group, with various 
time frames and averages used. The market undertone is steady. 
Tuesday's CME Group cash trading saw Grade AA butter prices closed at 
$2.6250, down $0.0050 from the previous week. According to the DMN 
National Retail Report-Dairy, for June 23-29, 2017, the Northeast 
weighted average retail price for 1-pound butter was $3.37, 21 cents 
higher than the national average price, but 14 cents below last week's 
Northeast butter price. Retail butter markets reported prices ranging 
$2.50-$3.99. The surveyed average price in the Southeast moved to 
$3.99, 83 cents higher than the national average price and 52 cents 
higher than last week's Southeast butter price. 
COLD STORAGE:  According to NASS, U.S. butter in storage on May 31, 
2017 totaled 313.6 million pounds, 3% below a year ago, but 7% more 
than last month. Public warehouse stocks totaled 289.5 million pounds.      

1100CT Jessica.Mueller@ams.usda.gov 608.422.8589
USDA/AMS/Dairy Market News, Madison, Wisconsin	
Dairy Market News website: http://www.ams.usda.gov/market-news/dairy
Dairy Market News database portal: 
http://www.marketnews.usda.gov/mnp/da-home