MD_DA440 DA MD DA440 BUTTER - WEST MADISON, WI. April 20, 2016 (REPORT 16) WEST BUTTER Western butter churns remain active and a few butter makers are buying the occasional load of spot cream to round out production. Most manufacturers are focused on making bulk butter, while also making some print butter to stay current with regular customer needs. Overall, there has been little change in the pace of butter production. Consumer demand is stable and has yet to decline much from the spring holidays. A few industry contacts suggest customers within the baking industry are drawing a little more butter than past years. Inventories are steady to building. The DMN National Retail Report-Dairy for the week of April 15-21 found that the U.S. weighted average advertised price of 1 pound butter is $2.99, down $.06 from last week. The U.S. weighted average price was $3.26 one year ago. In the Southwest, the weighted average advertised price of 1 pound butter is $3.17, with a range of $2.99-$3.50. In the Northwest, the weighted average advertised price of 1 pound butter is $2.81, with a range of $2.50-$2.99. Bulk butter pricing in the West this week is 3 cents under market to 2 cents above, based on the CME Group with various time frames and averages used. The Grade AA butter price at the CME Group on Wednesday closed at $2.0400, down $.0300 from a week ago. 2016 U.S. Butter Imports (USDA-FAS) 2016 Imports % Change From % of (Million Lb.) 1 Year Ago Yearly Quota March Quota 1.6 - 42.8 10.6 TOTAL, JAN - MAR High Tier 9.8 + 377.6 ... Quota 4.3 - 27.4 28.1 15300CT Mike.Bandli@ams.usda.gov 608.557.7010 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