Preheat the oven to 350 degrees F. Butter a 3-quart casserole dish.
Bring a large pot of salted water to a boil. Add the macaroni and cook until tender, about 7 minutes; strain well. Transfer the macaroni to a large bowl, add the butter and toss to coat.
Whisk together the milk, eggs and 2 teaspoons salt in a medium bowl. Add the milk-egg mixture to the macaroni; add the Cheddar and stir until it is evenly distributed. Pour into the prepared casserole dish.
Bake until the custard is set and the top is browned and bubbling, 30 to 35 minutes.
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