Tuesday Morning Butter Price Report

BUtter 2
CENTRAL BUTTER

Many butter manufacturers are wrapping up the last of the 
Easter/Passover retail orders.  The market tone is steady.  Snug 
cream supplies and increased cream prices resulted in a few butter 
churn operators electing to sell some cream supplies, reducing 
production levels.  International interest is ongoing as 
manufacturers fill export orders.  Domestic demand is moderate to 
very good with anticipation of a slight back off in sales after 
current holiday orders are filled.  Butter makers look to replenish 
light inventories in the coming weeks.  Current bulk butter prices 
range from market to 6 cents over the market, based on the CME Group 
and various indices.  At the CME Group Grade AA butter closed lower 
to $1.9850 at midweek, up 1.5 cents since last Wednesday.  The DMN 
National Dairy Retail Report noted the weighted average advertised 
price for a 1 lb. package of butter in the Midwest region was $2.50, 
29 cents lower than two weeks ago and 29 cents lower than the 
national price.  The average price in the South Central region was 
$2.79.  The national weighted average price was $2.79, a 5 cent 
increase from two weeks ago and 33 cents higher than a year ago.  The 
number of ads nationally, 3,010, increased by 22% this period 
compared to two weeks.  This week, Cooperatives Working Together 
(CWT) assisted on 13.928 million pounds of 82% butter for export.
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