Cash cheese held steady but butter increased 4 cents on the Chicago Mercantile Exchange on Monday. This is the highest butter price we’ve seen in over a year on the CME. Dairy Market News says cream supplies are available but many butter producers are gearing-up for end-of-year needs. They report current retail orders are strong and good holiday orders are being placed. Suppliers and handlers say it appears some buyers may be procuring a little heavier at this time choosing to carry a little extra inventory rather than come up short later in the year.
Cooperatives Working Together (CWT) has accepted 13 requests for export assistance from Dairy Farmers of America, Darigold, Land O’Lakes and Maryland & Virginia Milk Producers Cooperative Association to sell 5.880 million pounds of Cheddar and Monterey Jack cheese, and 687,842 pounds of butter, to customers in Asia, Central America, Europe and the Middle East. The product will be delivered September 2012 through March 2013.
In 2012, CWT has assisted member cooperatives in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 91.6 million pounds, butter totaling 58.1 million pounds, and anhydrous milk fat totaling 123,459 pounds. The product will go to 34 countries on four continents.