MD_DA440 DA MD DA440 BUTTER - WEST MADISON, WI. February 25, 2015 (REPORT 8) WEST BUTTER: Print butter demand remains good as staging for Easter/Passover retail needs are progressing. Bulk butter interest is uneven. Some buyers are cautious at current pricing levels, especially with the recent declines in pricing. Export demand is generally light. Pricing points and the level of the U.S. dollar are working against export opportunities. Bulk butter ranges from 4.5 cents under to 1 cent over the CME Group with various basing points. Butter production is steady to higher with cream movement into butter plants active. There is a decent call from higher Class products and butter producers are willing to make and hold butter. Spot cream market activity is fair to good and clearing up offerings. The DMN National Retail Report-Dairy ads for the week of February 20-26, shows the U.S. weighted average advertised retail price for a one pound pack of butter at $3.18, down $.44 from last week but $.61 higher than a year ago. Butter ad prices averaged $3.37 in the Southwest and $3.27 in the Northwest. NASS reports butter stocks at 148.1 million pounds on January 31, up 41% from last month and up 3% from a year ago. The Grade AA butter price at the CME Group on Wednesday closed at $1.6425, down $.0775 from a week ago. 2015 U.S. Butter Imports (USDA-FAS) (Million Lb.) % Change From % of 1 Year Ago Yearly Quota Jan. Quota Imports 1.6 + 163 11 Jan. - Jan. High Tier 1.0 +4074 N.A. Quota Imports 1.6 + 163 11 1530CT butch.speth@ams.usda.gov 608.278.4152 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