Report 41 – Released on October 10, 2019

Western European butter prices are steady. German butter prices are the highest. Within the steady range for Western Europe, French and Netherlands butter prices strengthened. Butteroil prices are mixed, up at the low end of the price range, but down at the top.

There is some buyer resistance to paying higher butter prices. Many buyers are stocked or contracted for current needs. Many of these buyers are holding back for now when manufacturers seek higher pricing. This is problematic for manufacturers because there has been recent strength in cream prices paid by butter manufacturers.

Short-term interest in buying is low. Existing contracts are being delivered on time. Contracting for Q1 next year has slowed due to the differing expectations of sellers and buyers. There has been an uptick in export inquiries.

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

Price Range – $/MT: 3,825 – 4,125

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

Price Range – $/MT: 4,850 – 5,350

Information for the period September 30 – October 11, 2019, issued biweekly

Published by: Dairy Market News – Madison, WI Eric K. 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: https://www.ams.usda.gov/market-news/dairy DMN MARS

(My Market News): https://mymarketnews.ams.usda.gov