Report 45 – Released on November 05, 2020

In Western Europe, the butter price range shifted lower. The highest butter prices tend to be in Belgium, followed by Germany, Italy, France, then Netherlands. The butter oil price range is lower. Conflicting factors are impacting butter pricing. November 1 many Western European nations heightened COVID-19 restrictions. Some hotels have closed again.

Restaurants are more limited in capacity.Some restaurants have closed altogether, citing the reduced capacity limitations as making operation cost prohibitive. This has chilled butter sales to such customers. There is a feeling of nervousness as to timing and pacing of these restrictions being eased. Yet household butter demand remains active. Holiday baking is ahead. The convergence of these factors has led to current pricing movements.

Western Europe, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,875 - 4,175


     Western Europe, 99% Butterfat, Free on Board - Port Butteroil
     Price Range - $/MT:                          4,525 - 4,775


     Information for the period October 26 -  November 6, 2020, issued biweekly

Secondary Sourced Information:

Butter production in the EU January – August 2020 increased 1.7 percent from January –August 2019 according to CLAL data made available to USDA.