Report 11 – Released on March 14, 2019

utter prices in Western Europe are lower. The weakness mostly occurred last week, with pricing this week being steadier. Butteroil prices are mixed, lower and higher. Customers for butter are less in need of near-term deliveries. That is leading to the current price weakness. Manufacturer stocks are in general balance, but there is some butter available for current delivery. Buyers are more actively contracting for Q3 and Q4 2019.

Western Europe, 82% Butterfat, Free on Board – Port Butter

Price Range – $/MT: 4,575 – 4,875

Western Europe, 99% Butterfat, Free on Board – Port Butteroil

Price Range – $/MT: 5,850 – 6,350

Information for the period March 4 – 15, 2019, issued biweekly

Secondary Sourced Information: EU butter production for 2018, 2,156,610 MT, was 0.2 percent higher than 2017 according to Eurostat. December 2018 production was 0.2 percent lower than December 2017. The table below shows data for some top milk producing EU countries.

2018 BUTTER PRODUCTION PERCENTAGE CHANGE
     2018/2017

     COUNTRY      Percent   2018 MT
     Germany      -2.6      483,890
     France       +1.8      419,480
     Ireland      +5.9      236,840

     EU butter exports during 2018, 158,000 MT, decreased 7.6 percent from 2017 according to
     CLAL.

     EU BUTTER EXPORTS ± TOP 3 DESTINATIONS

     Metric Tons January-December 2018
     Percent change 2018/2017

     DESTINATION      MT        PERCENT CHANGE

     United States    28,733     +4.2
     Saudi Arabia     14,656     +4.8
     China            10,024    -25.4
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: eric.graf@ams.usda.gov

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