Sep 01 145.000, up 2.cents from a week earlier. USDA reported higher ending stocks than expected and prices reflected this fact. Export interest perked up because of generally low price levels. The up coming South American harvest is expected to keep US feed prices down. Milk supply in the Northeast is steady and increasing in the Southeast.
Fluid supplies are adequate to increasing in Southern states.
Florida is shipping milk out, but surplus volumes are not very large. The class III pricing decision has caused confusion in cream pricing, and more cream is going to butter as a result. Less is going to anhydrous production. More butter will lower the CME butter prices. Fluid cream demand in the East is steady.