High retail demand for butter; foodservice keeps cheese plants humming; milk processing is stable
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The following excerpts are from USDA’s Dairy Market News for the week of Oct. 26 to 30. Read the full report here.
BUTTER HIGHLIGHTS: Butter production is steady to increasing. Demand, especially retail, is up. Some manufacturers are reporting Thanksgiving demand is higher than normal. Also, there are retail advertisements increasing sales. Current demand exceeds production, so some manufacturers are micro-fixing current inventory. Manufacturers do not want to build stock levels as lower prices are expected at the end of the year. Cream supplies are mixed in the Western region, while available in the Central and Northeastern regions. Friday at the CME Group, Grade AA butter closed at $2.7700 up $.3000 from last week’s close.