DECEMBER 3, 2010 MADISON, WI (REPORT 48)
BUTTER HIGHLIGHTS: The CME Group AA cash butter price
declined early in the week but recovered late to close at
$1.6100 (-6 cents from last Wednesday, November 24 close).
Churning was more active over the long holiday weekend while
many other cream users were closed. Printing continues to
fill last minute orders from bulk and fresh stocks. Export
interest has improved with the lower prices. Some
manufacturers are looking at increasing butter/butterfat
exports, particularly during the yearend holiday season.
The "new crop" butter production year started December 1,
allowing CME Group cash butter market sale eligibility until
March 1, 2012.
At the CME butter went up 5 1/4 cents yesterday December 2, 2010. Today, butter went up 21/2 cents. Interestingly, Daisy Brand has been active on the selling side. Daisy Brand does not make butter.