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USDA - AMS: Butter - Central (2019-03-06)

USDA U.S. Department of Agriculture - March 6, 2019


     MD_DA431

     Butter - Central U.S.

     Report 10 - Released on March 06, 2019

     Butter churning continues apace for several reasons. Seasonally available cream inventories
     are flowing into butter plants, with some weather-related exceptions in the upper Midwest.
     Additionally, butter plant managers are continuing their progress to store away butter for
     the spring and fall demand pushes. Some contacts note current inventories are available,
     while interest reports are positive in recent weeks. On the market side, some contacts
     suspect the large bump on the CME Monday, out of recent norms for the generally-steady
     butter markets, were a reaction to the CME¶s new crop rule. However, markets reacted
     Tuesday, and the gains were short-lived.

     National Retail Report Dairy ± Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of 3/1/2019
     to 3/7/2019

     Butter 1#                Weighted Average Price
     National           This Period    Last Week   Last Year
      Organic              $5.29         $4.99         $4.99
      Conventional         $3.51         $3.32         $3.56

                                Prices This Period
     Regional (Conventional) Wtd. Ave.     Low      High
     Alaska                   $3.75       $2.99    $4.49
     Hawaii                    n.a.        n.a.     n.a.
     Midwest                  $2.59       $2.59    $2.59
     Northeast                $3.27       $2.50    $4.49
     Northwest                $3.99       $3.99    $3.99
     South Central             n.a.        n.a.     n.a.
     Southeast                 n.a.        n.a.     n.a.
     Southwest                $4.23       $3.50    $4.99

                                Prices This Period
     Regional (Organic)      Wtd. Ave.     Low      High
     Northeast                $5.29       $5.29    $5.29
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0500 - +0.0700

     Information for the period March 4 - 8, 2019, issued weekly

     Secondary Sourced Information:

     The CME Group monthly average price for Grade AA butter during February was $2.2659, up
     from January¶s $2.2481.

     Dairy Products Report ± Butter Summary
     Released February 28, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

     Butter Production ± States and United States: December 2017 and 2018

                        Monthly Production (1000 pounds)      Percent Change from
                          Dec.        Nov.        Dec.          Dec.      Nov.
     Region               2017        2018        2018          2017      2018
     United States     171,105     146,143     170,960          -0.1      17.0

     Atlantic           18,368      13,100      18,236          -0.7      39.2
        Pennsylvania     8,862       6,127       8,787          -0.8      43.4

     Central            71,200      63,703      74,782           5.0      17.4

     West               81,537      69,340      77,942          -4.4      12.4
        California      50,281      41,258      46,385          -7.7      12.4

     Butter Production ± Cumulative Production January - December

                      Cumulative Production   Percent Change
                            (1000 pounds)         from
     Report Month         2017        2018        2017
     December        1,847,473   1,884,122         2.0
     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (MyMarketNews): https://mymarketnews.ams.usda.gov/
     DMN Database Portal: https://www.marketnews.usda.gov/mnp/da-home

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