MD_DA431

     Butter - Central U.S.

     Report 11 - Released on March 15, 2023

     Butter demand has strengthened, due, at least in part, to the proximity to spring holidays
     according to contacts. Butter makers say bulk availability, which has grown in recent weeks,
     is still accessible. However, they also say buyers are more active, particularly in regards
     to retail markets. Cream availability, despite similar multiples week to week, has begun to
     tighten up when compared to just a few weeks ago. That said, cream remains generally
     available for active churning rates, but demand from other end users, namely cream cheese
     and ice cream manufacturers, has butter plant managers reporting offers have begun to
     subside. Butter market tones are uncertain. Contacts' views are mixed from range-bound to
     more bearish potential due to the available cream and churning activity of recent months.
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              0.0000 - +0.0500


     Information for the period March 13 - 17, 2023, issued weekly

     Secondary Sourced Information:

     U.S. BUTTER AND MILKFAT EXPORTS (USDA-FAS)
                      2023 Exports      % Change From
                      (Million Lb.)       1 Year Ago
     TOTAL, JANUARY       9.4             -   13

     TOTAL, JAN           9.4             -   13
     Exports - Destination Country
     1 Canada            5.4             +   48
     2 Mexico            1.7             -   35
     3 South Korea       0.9             -   35
     4 Taiwan            0.2             +   75
     5 Panama            0.2             +  310

     U.S. BUTTER AND MILKFAT IMPORTS (USDA-FAS)
     (Imports for Consumption)
                                                2023 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     January Imports
       Total Butter, Fats, Milk (H.S. Code 0405)    13.8             +   54
       Butter
        Quota (H.S. Code 405101000)                  1.6             +   63
        Over Quota (H.S. Code 405102000)             7.2             +   33
       AMF
        Quota (H.S. Code 405901020)                  0.9             +  240
        Over Quota (H.S. Code 405902020)             1.3             +  161
       Other Milk Fat                                2.9             +   57

                                                2023 Imports      % Change From
                                                (Million Lb.)       1 Year Ago
     TOTAL, JAN                                     13.8             +   54
     Imports - Country of Origin
     1 Ireland                                      6.4             +   48
     2 India                                        2.9             +   48
     3 New Zealand                                  2.3             +  106
     4 Mexico                                       1.1             +1,931
     5 France                                       0.5             -   15

     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