Report 49 – Released on December 03, 2020

The Oceania butter price range moved higher, continuing a recent trend. Buyers are stepping up to lay claim to butter for coming months. There does not seem to be much reason to holdback and hope for significantly weaker prices. The Oceania milk production season is in the waning phase. With some concerns about dryness and heat, the only consideration now is how fast butter production will decline.

Oceania, 82% Butterfat, Free on Board - Port Butter
     Price Range - $/MT:                          3,875 - 4,025


     Information for the period November 23 -  December 4, 2020, issued biweekly

Secondary Sourced Information:

At GDT event 273 on December 1, the butter all contracts price, $3,986, increased 3.8percent. The January contract, $4,005 increased 4.4 percent.

Butter exports from New Zealand January – October 2020, 337,000 MT, decreased 8.2 percent from January – October, 2020, according to CLAL data made available to USDA.

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

     Additional Dairy Market News Information:
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     DMN Website: https://www.ams.usda.gov/market-news/dairy
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