Report 41 – Released on October 08, 2020

Butter prices in Oceania are higher. This is reflective of GDT prices and private sales.Buying interest from the Middle East and EU helped move pricing higher. New Zealand butter buyers have taken note of recent plans to lower volumes of butter offered on the GDT over the next 12 months, as well as at the latest event.

With this week expected to likely be the peak of New Zealand milk production, forwardl ooking buyers are beginning to stake down commitments of supply assurance in coming months.There is butter readily available for near term sales and during coming months. Buyers and sellers are comfortable making deals at current pricing. Cream is available for production to fill commitments.

     Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,275 - 3,700


     Information for the period September 28 -  October 9, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 269 on October 6, 2020, the butter all contracts price, $3,561, increased 8.4 percent. The November contract, $3,700, increased 11.6 percent.

   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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov