Report 47 – Released on November 21, 2019

Butter prices in Western Europe are mixed. Lower range prices firmed, reflecting briskdemand. Top end prices are slightly lower, reflecting more buyers being open to butter thatis not source specific. Prices are highest in Germany, followed by France, Netherlands, andItaly. Butteroil prices are lower.

Butter churning for holiday retail demand has moved past the peak. Some bakers are stillplacing last minute orders. Current cream prices are attractively high, so there is atendency for manufacturers to make some current deliveries from butter stocks on hand. Thereis good buying interest in concluding contracting for Q1 2020, and beyond. Export interesthas also increased. Most manufacturers are confident of being able to make deliveries on newexport contracts.

estern Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,925 - 4,125


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,850 - 5,400


     Information for the period November 11 - 22, 2019, issued biweekly

Secondary Sourced Information:

EU butter production January – September this year increased 3.7 percent from the same period in 2018, according to CLAL data provided to USDA. Among countries, butter production in Germany increased 3.6 percent, French butter production decreased 1.4 percent,Netherlands butter production decreased 1.3 percent, United Kingdom butter production increased 26.7 percent, and Irish butter production increased 10.3 percent.

Butter exports from the EU January – September this year, 123,981 MT, increased 28 percent from the same period of 2018, according to Eurostat. Among the top three destinations, the export percentage changes were: United States, +33 percent; China, +26 percent; and Japan,+55 percent.

 Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

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