Report 17 – Released on April 23, 2020

Butter prices in Oceania are slightly lower overall. Some buyers with source preferences and timing factors are paying a premium to this week’s GDT results. Oceania pricing remains significantly higher than Western European pricing. Yet this late in the season there is little new contracting for butter until next season begins. Sources in New Zealand cite an increase in some buyer resistance to Oceania price levels. Western Europe is increasingly beckoning some buyers. Of course, transportation and infrastructure challenges are currently not to be ignored.

Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          4,175 - 4,300


     Information for the period April 13 - 24, 2020, issued biweekly

Secondary Sourced Information:

Australian exports of butter July 2019 – February 2020, 5,051 MT, compared with July 2018 –February 2019, decreased 40.3 percent according to Dairy Australia.

At GDT event 258 on April 21, the butter all contracts price, $4,117, decreased 3.6 percent. The May contract did not trade.