Butter - West

     Butter - Western U.S.

     Report 42 - Released on October 17, 2018

     Western butter production is active with available cream supplies. Cream stocks are
     generally plentiful. However, production of heavy fat, holiday consumer products is
     increasing and processors expect tighter supplies of cream soon. Manufacturers report steady
     food service and bulk butter demand. Some eastern buyers are making butter purchases in the
     West to meet their needs, but trucks and truckers are costly and in tight supply. Western
     butter makers say without tergiversations that Q4 holiday orders have begun. Retail orders
     are booming and the seasonal draw on butter supplies is reducing inventories as expected.

     National Retail Report Dairy � Butter Summary
     Advertised Prices at Major Retail Supermarket Outlets ending during the period of
     10/12/2018 to 10/18/2018

     Butter 1#
                         Weighted Average Price
     National      This Period  Last Week  Last Year
      Organic         $4.85       $5.07      $5.10
      Conventional    $3.03       $3.31      $3.37

                           Prices This Period
     Regional (Conventional)
                    Wtd. Ave.      Low        High
      Alaska          $3.99       $2.99      $4.99
      Hawaii          $5.99       $5.99      $5.99
      Northwest        n.a.        n.a.       n.a.
      Southwest        n.a.        n.a.       n.a.
     Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              0.0000 - +0.0700

     Information for the period October 15 - 19, 2018, issued weekly

     Secondary Sourced Information:

     CME Closing price
     The Grade AA butter price at the CME Group on Wednesday closed at $2.2850, compared to the
     weekly average price of $2.2510 from last week.
     Published by:
     Dairy Market News - Madison, WI
     MIKE BANDLI, (608) 422-8592
     Email: Mike.Bandli@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