Butter - Northeast
MD_DA410

     Butter - Eastern U.S.

     Report 11 - Released on March 14, 2018

     While the Northeast was hit by some winter storms, production remained relatively active.
     Market participants shared that interest in unsalted butter has increased. In general,
     demand for both unsalted and salted butter is strong. Inventories are sufficient to meet
     current demand. Cream availability is moderate throughout the region. Some sources report
     Class IV cream moving into butter plants at 1.30-1.32 multiples. The market tone is steady.
     Sales of bulk butter in domestic markets are 6 to 8 cents over the market of the CME Group,
     with various time periods and averages used.  According to the DMN National Retail Report-
     Dairy, March 9-15, 2018, the Northeast weighted average retail price for 1-pound butter was
     $3.91, 4 cents lower than the national price, but up 18 cents from last week�s regional
     price. Retail butter markets reported prices ranging $1.88-$4.99 in the Northeast.
     Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0600 - +0.0800

     Information for the period March 12 - 16, 2018, issued weekly

     Secondary Sourced Information:

     Tuesday�s CME Group trading saw the daily cash butter price settle at $2.2150, down $.0175
     from last Tuesday.

     2018 U.S. Butter and Milkfat Exports (USDA-FAS)

                      2018 Exports      % Change From
                      (Million Lb.)       1 Year Ago

     TOTAL, JANUARY       5.1             + 25
     1 Canada             1.8             - 16
     2 Mexico             1.0             + 28
     3 Saudi Arabia       0.5             + 27
     4 Dominican Republic 0.3             +1550
     5 Morocco            0.3             +435



     2018 U.S. Butter and Milkfat Imports (USDA-FAS)
     (Imports for Consumption)

                                                2018 Imports      % Change From
                                                (Million Lb.)       1 Year Ago

     January Imports
       Total Butter, Fats, Milk (H.S. Code 0405)     6.0             +  8
       Butter
        Quota (H.S. Code 405101000)                  0.9             + 96
        Over Quota (H.S. Code 405102000)             3.4             -  4
       AMF
        Quota (H.S. Code 405901020)                  0.4             - 43
        Over Quota (H.S. Code 405902020)             1.1             +140
       Other Milk Fat                                0.2             - 54


                                                2018 Imports      % Change From
                                                (Million Lb.)       1 Year Ago

     TOTAL, JANUARY                                 6.0             +  8
     1 Ireland                                      3.5             + 50
     2 Mexico                                       1.1             + 48
     3 New Zealand                                  0.6             - 21
     4 France                                       0.4             + 58
     5 India                                        0.2             +107
     Published by:
     Dairy Market News - Madison, WI
     JENNIFER HERNANDEZ, (608)422.8597
     Email: JenniferA.Hernandez@ams.usda.gov
     DANIEL JOHNSON, (608)422.8605
     Email: Daniel.Johnson@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422.8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home