MD_DA431

     Butter - Central 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_1089.pdf

     The day-to-day butter plant dynamic is generally unchanged despite butter market prices
     hovering near record highs. Cream remains somewhat snug, but cream offers are reportedly
     growing toward the middle of the week and for weekend shipments. Near-term butter demand is
     still somewhat steady. There is some concern that orders will slow soon, not solely because
     of the current market price point, but because holiday pipelines are closer to being
     fulfilled. Contacts say buyers do not want to get caught holding inventories at the $3.50/lb
     mark moving into the final quarter of the year. They relay some buyers are more willing to
     pay closer to $3.20, but loads changing hands at the market level are for immediate needs.
     With an increase in market prices comes an influx of questions from contacts. Most are in
     the following tone: How long will the bullish push endure? How quickly/dramatically will
     prices drop?
     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 - +0.0600


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

     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