MD_DA410 DA MD DA410 BUTTER - Northeast MADISON, WI. September 13, 2017 (Report 37) Butter spot sales are steady to decreased as trading activities haven't been as active. Spot prices are steady to softening as many traders and brokers are bidding on butter for reduced prices. Manufacturers' contracts are actively clearing into retail channels. The demand for spot sales on the market are steady to lower as market participants currently see the price shifting down. Operations in the Northeast cleared steady milk loads into balancing. Cream for contracts are mostly available and cream spot loads are more available than in recent weeks. Butter production is strong to weak as churns are shut off in some balancing plants due to maintenance and the high cream demand. Inventories are adequate for contracted needs in some plants. The bulk butter price is 5 to 8 cents over the market of the CME Group, with various time frames and averages used. The market undertone is steady with signs of softness as prices have declined. According to the DMN National Retail Report-Dairy, for September 8-14, 2017, the Northeast weighted average retail price for 1-pound butter was $3.34, 15 cents lower than the national price and down 24 cents from last week's Northeast butter price. Retail butter markets reported prices ranging $2.79-$4.49 in the Northeast. The surveyed average price in the Southeast is $3.66, down 1 cent from last week, with prices ranging $3.50-$3.99. 2017 U.S. Butter and Milkfat Exports (USDA-FAS) 2017 Exports % Change From (Million Lb.) 1 Year Ago July 5.2 + 86 TOTAL, JAN - JUL 33.4 + 5 1 Canada 15.4 +186 2 Mexico 4.4 - 75 3 South Korea 2.5 +193 4 Saudi Arabia 2.3 - 19 5 Peru 1.9 +934 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