Butter - West
USDA - Wed Jun 12, 11:27AM CDT
MD_DA440

     Butter - Western U.S.

     Report 24 - Released on June 12, 2019

     Western butter demand remains ahead of expectations. Industry contacts suggest they are
     seeing some seasonal slowdown in butter interest, but not to the extent that they might see
     normally. Food service and bulk butter demand are especially strong for this time of the
     year. Butter makers say brokers keep calling, looking for available deals on bulk butter
     loads, but low-priced deals are scarce. Butter production is active and would be even
     stronger if cream was more available. In some cases, manufacturers have slowed the butter
     churns because affordable cream is hard to get. The push and pull between supply and demand
     for milkfat has given some balance and price support for butter in U.S. spot markets.


     National Retail Report Dairy � Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of 6/07/2019
      to 6/13/2019

     Butter 1#                       Weighted Average Price
     National                  This Period   Last Week   Last Year
     Organic                     $5.99         $5.29       $5.03
     Conventional                $3.25         $3.48       $3.59


     CME Closing price
     The Grade AA butter price at the CME Group on Wednesday closed at $2.3925, compared to the
     weekly average price of $2.3745 from last week.
     Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0300 - +0.0750

     Information for the period June 10 - 14, 2019, issued weekly

     Secondary Sourced Information:

     CME Closing price
     The Grade AA butter price at the CME Group on Wednesday closed at $2.3925, compared to the
     weekly average price of $2.3745 from last week.


     2019 U.S. Butter and Milkfat Exports (USDA-FAS)
                      2019 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     April                 3.2             - 71

     TOTAL, JAN - APR     20.3             - 31
     Exports � Destination Country
      1 Canada             6.7             - 28
      2 Columbia           2.8            +1576
      3 Saudi Arabia       2.4             + 55
      4 Mexico             2.4             - 73
      5 South Korea        2.0             +140


     2019 U.S. Butter and Milkfat Imports (USDA-FAS)
     (Imports for Consumption)
                                                2019 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     April Imports
       Total Butter, Fats, Milk (H.S. Code 0405)    10.1             + 12
       Butter
        Quota (H.S. Code 405101000)                  0.8             - 43
        Over Quota (H.S. Code 405102000)             5.7             + 49
       AMF
        Quota (H.S. Code 405901020)                  0.3             +141
        Over Quota (H.S. Code 405902020)             2.9             + 58
       Other Milk Fat                                0.4             - 79

                                                2019 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     TOTAL, JAN - APR                               35.2             + 27
     Imports � Country of Origin
      1 Ireland                                     17.4             + 22
      2 Mexico                                       7.3             + 57
      3 Australia                                    3.3            +1789
      4 France                                       1.3             - 24
      5 India                                        1.1             - 68
     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608)422-8592
     Email: mike.bandli@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/