MD_DA440 Butter - Western U.S. Report 49 - Released on December 02, 2020 The butter market is showing some pop as prices trend higher this week in corrections to prices that have been much lower than some industry sources expected. Otherwise, churning is highly active, parallel to the uptick in Western milk production. Cream supply is above sufficient as multiples range 1.05 � 1.21. Determined defines some butter manufacturers� efforts to keep inventories in balance after gauging their post-Thanksgiving butter supply. Print demand continues to surprise, with good interest from retailers� re-stock orders. Current export interest helps address heavy stock volumes. The most recent Global Dairy Trading (GDT) butter price maintains the competitiveness of U.S. butter price in the export market. Food service demand is seeing declines, now that there is less butter needed for the USDA food box program. Inquiries are active for bulk, into Q1 2021. The current wholesale butter prices for domestic sales are reported $0.0450 to $0.0750 cents over the market of the CME Group, with various time frames and averages used. Butter prices are firming in an unsettled market. Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0200 - +0.0750 Information for the period November 30 - December 4, 2020, issued weekly Secondary Sourced Information: CME TRADING The Grade AA butter price at the CME Group on Wednesday closed at $1.4575, compared to the weekly average price of $1.3292 from last week. Published by: Dairy Market News - Madison, WI DANIEL JOHNSON, 608-422-8605 Email: daniel.johnson4@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 (My Market News): https://mymarketnews.ams.usda.gov
Butter - West