MD_DA410
DA
MD DA410 BUTTER - NORTHEAST

MADISON, WI.  November 24, 2009 (Report 47)  

NORTHEAST BUTTER
Butter was active on the CME Group, trading 16 loads the first two days 
this week and closing Tuesday unchanged at $1.5250. This was the 
twelfth consecutive day butter closed at this level.  Plants are 
looking forward to expanding churning schedules as cream supplies 
increase over the holiday week.  The increased production will assist 
with filling holiday orders. Previously tight cream supplies quickly 
loosened this holiday week as Class I demand declined.  A number of ice 
cream plants were shut down for the holiday week, adding to the 
available cream supply.
The latest NASS Cold Storage report released last Friday afternoon, 
shows butter in storage in all warehouses on October 31 totals 195.1 
million pounds, 32.9 million pounds (14%) less than the prior month 
stocks but 31% more than October 2008 stocks.  Prices for bulk butter 
range from 5-6 cents over the market, based on CME Group with various 
time frames and averages used.  

1100c Rick Whipp rick.whipp@ams.usda.gov