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CME: Butter Production Up 17 Per Cent This Year

02 November 2011

US - More milk is flowing into the butter churn. In September, US butter production was 137.6 million lbs., up 21 per cent from last year, acccording to USDA’s “Dairy Products” report, writes Alan Levitt.

YTD output is up 16.6 per cent (see chart). Drying activity is up as well: in September, production of NDM/SMP was 139.5 million lbs., up 10 per cent.

Cheese production was seasonally higher, but remained below year-ago levels. September output was 867.3 million lbs., -0.6 per cent, USDA says.

The California 4b price for October is $15.78, down 55¢ from September, and the 4a price is $18.29, down a dollar.

Global Dairy Trade auction prices decreased today in most products, though SMP pricing was flat. The weighted average price for SMP was $3,292 ($1.49/lb.), up 0.2 per cent from the 18 October auction.

SMP from the United States (DairyAmerica) averaged $3,180/ton ($1.44/lb.) for December delivery and $3,160/ton ($1.43/lb.) for January delivery.

Meanwhile, AMF dropped 9.3 per cent to $3,309/ton ($1.50/lb.), and cheddar cheese for industrial use fell 3.2 per cent to $3,406/ton ($1.54/lb.).

The weighted average price for WMP was $3,487/ton ($1.58/lb.), down 0.8 per cent from the previous event. The trade-weighted index for all products was down 1.2 per cent. cm

Further Reading

- You can view the full report by clicking here.


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