MD_DA410

     Butter - Eastern U.S.

     Report 41 - Released on October 11, 2023

NOTICE: After October 16, 2023, all information found on this report will transition to a new PDF format. 
The same data will be collected and disseminated through AMS Marketing Analysis and Reporting 
Services (MARS) platform. The new pdf report can be accessed on the AMS website at:
https://www.ams.usda.gov/mnreports/ams_1090.pdf


     Butter prices reached $3.4300 on industry cash exchanges last Wednesday and climbed to
     $3.4800 as of report publishing time. Cream volumes remain slim and as a result contracted
     loads of cream are keeping churns running. Unsalted butter is said to be more of a
     production focus ahead of the holiday season. Purchasing spot loads of cream continues to be
     cost-prohibitive for some processors, as the weekly average price of butter continues to
     climb. Retail demand remains slower than in recent weeks. Last week's National Retail Report
     lists the national weighted average advertised price of conventional 1-pound packages of
     butter at $3.87, down from $4.36 last week. In the Northeast, the weighted average
     advertised price of conventional 1-pound packages of butter is listed at $3.91.
     Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0500 - +0.1000


     Information for the period October 9 - 13, 2023, issued weekly

     Secondary Sourced Information:

     U.S. BUTTER AND MILKFAT IMPORTS (USDA-FAS)
     (Imports for Consumption)
                                                2023 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     AUG Imports
       Total Butter, Fats, Milk (H.S. Code 0405)     11.7              -   3
       Butter
        Quota (H.S. Code 405101000)                   0.7              -  54
        Over Quota (H.S. Code 405102000)              8.1              -   8
       AMF
        Quota (H.S. Code 405901020)                   0.8              +  17
        Over Quota (H.S. Code 405902020)              0.9              +  21
       Other Milk Fat                                 1.2              -  24

                                                2023 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     TOTAL, JAN - AUG                               106.5              +  12
     Imports - Country of Origin
     1 Ireland                                       59.8              +  12
     2 New Zealand                                   20.3              +  84
     3 Mexico                                         9.7              + 173
     4 India                                          8.4              -  46
     5 France                                         3.8              -  12

     U.S. BUTTER AND MILKFAT EXPORTS (USDA-FAS)
                      2023 Exports      % Change From
                      (Million Lb.)       1 Year Ago
     TOTAL, AUG           6.3              -  64

     TOTAL, JAN - AUG    61.5              -  45
     Exports - Destination Country
     1 Canada            40.3              -  14
     2 Mexico             6.5              -  70
     3 South Korea        3.6              -  71
     4 Panama             1.4              +   5
     5 Taiwan             1.1              -  43

     Published by:
     Dairy Market News - Madison, WI
     ISABEL MCNEILL, 608-422-8594
     Email: Isabel.McNeill@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