MD_DA431

     Butter - Central U.S.

     Report 9 - Released on March 03, 2021

     Butter contacts expected some upside following the "new crop" butter rule on the CME, but
     few suggest they expected the nearly $.25 bump in its first two days. Some contacts question
     the sustainability of the butter markets with the amount of bulk butter available. That
     said, as domestic prices continue to be a good value to exporter interests, there are some
     bullish indicators moving forward. Cream remains accessible for butter producers. Most are
     finding cream at multiples below 1.20 and some cleared loads at below 1.15 this week.
     Churning is, and has been, very active with very few pauses in recent weeks.
     Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0075 - +0.0500


     Information for the period March 1 - 5, 2021, issued weekly

     Secondary Sourced Information:

     The CME Group February monthly average price for Grade AA butter was $1.3859, compared to
     $1.3496 in January.
     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