The tricky parts is figuring out whether the 10% drop in prices today was the blow-off bottom or the 10% drop tomorrow will be the bottom. Very strong retail sales in the US are keeping physical supplies in balance or a little tight, but consumers are now stocked up and the retail side will cool down. About 24 states have temporarily banned dine-in service at restaurants. So food service demand will be dropping swiftly and significantly in coming weeks. Black Box Intelligence said foodservice sales were only down about 3% last week, but we’re headed for at least a 10% decline and probably more like 20-30%. Butter prices have been hit hard, and with reduced cream going into foodservice and more cream coming from bottling operations the price drop makes some sense.