MD_DA431

     Butter - Central U.S.

     Report 14 - Released on April 07, 2021

     Butter producers say the culmination of spring holidays has not moved the needle regarding
     general week to week activities. Cream multiples are similar to previous weeks. Cream is
     still tighter than it was throughout a majority of Q1. Still, though, butter makers report
     there are cream multiples in the low/mid 1.20s, but they are becoming more limited. Butter
     plant managers say food service sales have maintained strength for three to four consecutive
     weeks. Retail sales are on a steady seasonal decline. With considerable production downticks
     noted in the NASS Dairy Products report (February), butter market tones received an
     additional shot in the arm. Since the onset of the new crop butter rule on March 1st, market
     tones have been in mostly bullish territory.
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0100 - +0.0500


     Information for the period April 5 - 9, 2021, issued weekly

     Secondary Sourced Information:

     The CME Group March monthly average price for Grade AA butter was $1.7153, compared to
     $1.3859 in February.

     DAIRY PRODUCTS REPORT – BUTTER SUMMARY
     Released April 1, 2021, by the National Agricultural Statistics Service (NASS), Agricultural
     Statistics Board, United States Department of Agriculture (USDA).

     Butter Production – States and United States: February 2020 and 2021
                        Monthly Production (1000 pounds)    Percent Change from
                           FEB         JAN         FEB          FEB      JAN
     Region               2020        2021        2021         2020     2021
     United States     188,035     209,630     185,620         -1.3    -11.5

     Atlantic           19,013      19,224      18,120         -4.7     -5.7

     Central            73,271      83,138      73,800          0.7    -11.2

     West               95,751     107,268      93,700         -2.1    -12.6
        California      57,624      65,111      57,003         -1.1    -12.5


     Butter Production – Cumulative Production January - February
                      Cumulative Production   Percent Change
                            (1000 pounds)         from
     Report Month         2020        2021        2020
     FEB               381,457     395,250         3.6

     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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov