Report 21 – Released on May 23, 2019

Butter prices in Oceania are weaker. Some buyer price resistance, coupled with many buyers having stocks secured, were factors driving prices lower even with generally lower churning schedules.

 Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          5,425 - 5,600


     Information for the period May 13 - 24, 2019, issued biweekly

Secondary Sourced Information:

At GDT event 236 on May 21, the butter all contracts price, $5,297, is down 3.2 percent. The June contract, $5,600, decreased 4.9 percent.

Butter exports from Australia January-March 2019, 5,600 MT, were up 75.2 percent from January-March 2018, according to CLAL data provided to USDA. The United States is the single biggest Australian butter export customer during the period.

The table below shows the top export destinations and country percent change comparing January-March 2019 with January-March 2018.

 Australia Butter Exports
     January-March 2019/January-March 2018

                               % Change
     Destination        MT     2019/2018

     United States      1,571  +1,864.0
     Thailand           1,063     +97.8
     Malaysia             562      -1.3
     China                237     -33.7
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home