USDA Central States Print Butter                   05/08 15:35
AMS_1089 MARS

Butter - Central U.S.

Released on May 08, 2024

Butter makers say May cream availability is holding in line with April, as it 
remains generally available for churning schedules. Reported multiples at 
midweek are not at or below 1.00, but some have shifted closer to that 
direction since last week. Despite milk showing signs of tightness, milkfat 
availability has yet to fall in line. Butter makers are attributing some of the 
extra cream to output-per-cow improvements at the farm level. On the demand 
side, foodservice and retail pushes are being relayed. Prices of roughly $3/lb 
may be higher than typical this time of the year, but expectations are they 
will only continue to push. Clearly, butter markets are, and have been, the 
bullish stalwart of the industry in recent months. Contacts expectations vary, 
particularly regarding market prices, but the general viewpoint is a consensus: 
bullish.

Prices for: Central, All First Sales, F.O.B., Grade AA, Edible Butter

Basis Pricing - 80% Butterfat:               0.02-0.08


Information for the period May 6 - 10, 2024, issued weekly

Secondary Sourced Information:

The CME Group April monthly average price for Grade AA butter was $2.9406, 
compared to $2.8220 in March.