MD_DA431

     Butter - Central U.S.

     Report 32 - Released on August 06, 2020

     Butter plant managers and other contacts are notably concerned about current market bears.
     Some contacts expected butter market prices in the high $1.60s and/or $1.70s was the butter
     market price basement. Tuesday, after a $.1550 drop, butter market prices slipped into the
     low $1.40s. Butter producers say both retail and food service demand has edged back
     somewhat. Now, they are focusing on governmental contract purchases and producing for the
     fall demand season; churning remains busy. Although cream availability is reportedly not as
     ample as last week, current multiples are landing at similar points to last week.
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0200 - +0.0700


     Information for the period August 3 - 7, 2020, issued weekly

     Secondary Sourced Information:

     The CME Group July monthly average price for Grade AA butter was $1.6925, compared to
     $1.8291 in June.

     DAIRY PRODUCTS REPORT � BUTTER SUMMARY
     Released August 4, 2020, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

     Butter Production � States and United States: June 2019 and 2020
                        Monthly Production (1000 pounds)    Percent Change from
                          June         May        June         June      May
     Region               2019        2020        2020         2019     2020
     United States     154,848     177,966     150,018         -3.1    -15.7

     Atlantic           14,824      16,370      14,335         -3.3    -12.4

     Central            59,583      68,235      54,912         -7.8    -19.5

     West               80,441      93,361      80,771          0.4    -13.5
        California      45,524      55,557      49,225          8.1    -11.4

     Butter Production � Cumulative Production January - June
                      Cumulative Production   Percent Change
                            (1000 pounds)         from
     Report Month         2019        2020        2019
     June            1,049,166   1,122,858         7.0

     COLD STORAGE � BUTTER SUMMARY
     Released July 22, 2020, by the National Agricultural Statistics Service (NASS), Agricultural
     Statistics Board, United States Department of Agriculture (USDA).

                                                                       6/30/20
                    Stocks in all Warehouses (1,000 pounds)    as a percent of
                       6/30/19      5/31/20     6/30/20     6/30/19     5/31/20
     Butter Stocks     326,297      375,777     361,643      111          96

     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