Butter - Central
MD_DA431

     Butter - Central U.S.

     Report 20 - Released on May 15, 2019

     Although cream supplies have slimmed down, some Midwestern butter plant managers say they
     are surprised it is still as available as it is. That said, others say their cream purchases
     are becoming rare, and they are only looking locally. Production, as with cream
     availability, varies plant to plant. Some producers are mostly micro-fixing, while others
     are churning/micro-fixing. Bulk butter is available and producers are seeking it out. Bulk
     prices are similar to last week, $.04 to %.08 over the CME average, but most overages are
     reported around $.04 to $.05 over. Butter market tones are bullish. CME prices broke out of
     the $2.25 to $2.30 and have been knocking on the $2.40 door. Lower overall milk supplies and
     an increasing value on milkfat have contacts believing they could continue to push up into
     this summer. Others suggest an increase in imports could rein in those bulls, and they
     foresee continued steadiness after this bullish push.

     National Retail Report Dairy � Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of 5/10/2019
      to 5/16/2019


     Butter 1#                       Weighted Average Price
     National                  This Period   Last Week   Last Year
     Organic                     $6.18         $6.09       $6.29
      Conventional               $3.60         $3.68       $3.13


     Prices This Period
     Regional (Conventional)    Wtd. Ave.       Low         High
     Alaska                       n.a.          n.a.        n.a.
     Hawaii                       n.a.          n.a.        n.a.
     Midwest                     $3.00         $3.00       $3.00
     Northeast                   $3.78         $2.99       $4.99
     Northwest                   $2.50         $2.50       $2.50
     South Central               $3.42         $2.99       $3.99
     Southeast                   $3.76         $3.50       $3.99
     Southwest                   $2.99         $2.99       $2.99


     Prices This Period
     Regional (Organic)         Wtd. Ave.       Low         High
     Alaska                       n.a.          n.a.        n.a.
     Hawaii                      $8.99         $8.99       $8.99
     Midwest                      n.a.          n.a.        n.a.
     Northeast                   $5.29         $5.29       $5.29
     Northwest                    n.a.          n.a.        n.a.
     South Central                n.a.          n.a.        n.a.
     Southeast                    n.a.          n.a.        n.a.
     Southwest                    n.a.          n.a.        n.a.
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0400 - +0.0800

     Information for the period May 13 - 17, 2019, issued weekly

     Secondary Sourced Information:

     2019 U.S. Butter and Milkfat Imports (USDA-FAS)
     (Imports for Consumption)
                                               2019 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     March Imports
       Total Butter, Fats, Milk (H.S. Code 0405)    10.2             + 70
       Butter
        Quota (H.S. Code 405101000)                  0.8             + 20
        Over Quota (H.S. Code 405102000)             7.3             +152
       AMF
        Quota (H.S. Code 405901020)                  0.4             + 76
        Over Quota (H.S. Code 405902020)             1.5             + 61
       Other Milk Fat                                0.1             - 94

                                                2019 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     TOTAL, JAN - MAR                               25.2             + 34
     Imports � Country of Origin
      1 Ireland                                     13.5             + 28
     2 Mexico                                       4.6             + 65
     3 Australia                                    1.8              ...
     4 India                                        1.0             - 35
     5 New Zealand                                  0.7             - 50

     2019 U.S. Butter and Milkfat Exports (USDA-FAS)

                      2019 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     March                 5.5             - 34

     TOTAL, JAN - MAR     17.1             -  6
     Exports � Destination Country
     1 Canada             5.6             - 16
     2 Columbia           2.7              ...
     3 Saudi Arabia       2.4             + 63
     4 Mexico             2.1             - 46
     5 South Korea        1.3             +114
     Published by:
     Dairy Market News - Madison, WI
     ISRAEL WEBER, 608-422-8601
     Email: israel.weber@usda.gov

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